XRP Price Prediction as XRP Becomes Best Performing Crypto Over the Last 7 Days – Is a New Bull Market Starting?

The price of XRP increased by 1% in the previous day, moving to $0.468157, making it the top-performing top-100 cryptocurrency during the previous week.

As the market grows more and more confident that the Ripple-SEC case will result in a favourable outcome, the price of XRP has impressively climbed by 20% over the previous week and by 25% over the past two weeks.

The fact that XRP’s 24-hour trading volume is still strong, at just over $1.5 billion, indicates that there will likely be more gains in the coin’s value in the near future.

This would undoubtedly be the case if Ripple succeeds in getting a favourable ruling in its appeal, which may push XRP above $1 and put it back on track to reach its all-time high from 2018.

XRP Price Prediction as XRP Becomes Best Performing Crypto Over the Last 7 Days – Is a New Bull Market Starting?

The chart of XRP indicates that it now has a lot of momentum, but encouragingly, its technical indicators indicate that it can still increase further before it crosses the overbought threshold.

After plummeting to 60 a few days ago, its relative strength index (purple) has started to rise once more, indicating that another spike may be on the horizon.

XRP’s 30-day moving average (red) has started moving up towards its 200-day moving average (blue), and a crossover will probably indicate additional upward momentum.

If XRP breaks and maintains above the $0.475 level, it’s likely that a more prolonged rise is in store for the cryptocurrency.

Yet, if and when Ripple wins a positive settlement or verdict in its action with the SEC, there’s little doubt that XRP will increase far beyond such a price.

The outcome of the case is expected to be determined within the next few months, however some prominent observers and participants have even speculated that it might happen this week.

At the very least, Ripple CEO Brad Garlinghouse has recently stated multiple times that he anticipates a resolution to the dispute this year, possibly by the summer.

Most significantly, given all the favourable decisions and judgements Ripple has been able to secure, there is still a very real possibility that it may prevail.

A key expert witness for the SEC who had been asked by the agency to testify that XRP buyers had a reasonable expectation of profit was upheld on Ripple’s move to exclude him.

Other favourable rulings include the upholding of Ripple’s right to use a fair notice defence and the company’s victory in gaining access to key SEC emails connected to a 2018 lecture on the subject of whether cryptocurrencies are securities.

The XRP community and the larger cryptocurrency world are feeling upbeat as a result of these developments, and many people are anticipating a decision soon.

Furthermore, if this choice is made favourably, the recent XRP rally will undoubtedly seem insignificant.

Having said all of this, it is important to note that, according to three whale alerts over the last 24 hours, whales appear to be transferring XRP to exchanges at the moment.

As a result, we might actually experience a short-term decline, at least until the matter is decided.

The longer-term outlook, however, is much more encouraging, with a Ripple victory allowing the company to significantly grow its business.

Even though the case has cast a shadow over this industry for the past few years, the number of XRP Ledger accounts has increased from two million in February 2020 to approximately five million now.

Is Now a Good Time to Buy XRP?

With the gains it has made over the last few days, although its signs continue to be positive, XRP may perhaps experience a brief reversal.

In the long run, a ruling in the Ripple-SEC case may not be reached for several months, thus traders seeking large profits may prefer to focus on other high-potential coins right now.

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