XRP Price Prediction as Ripple Obtains In-Principle Approval for Major Payments License in Singapore – Can XRP 10x From Here?
The XRP price has risen by 3% in the past 24 hours, rising to $0.509635 after Ripple announced it had received in-principle regulatory approval in Singapore to offer digital asset services in the city-state.
XRP is now up by 7.5% in the past seven days and by 10% in the last 30, with the altcoin also rising by 58% in the past year, as the market increasingly comes to expect a positive conclusion to Ripple's case against the SEC.
The altcoin's rise today also comes amid a market-wide rally, as news of applications for Bitcoin ETFs from BlackRock and other institutions boosts investor sentiment.
Such a lift in mood could amplify XRP's gains in the event of Ripple victory in its aforementioned case, potentially making XRP one of the best-performing major cryptocurrencies of 2023.
XRP's chart finds the altcoin in a promising position, with its technical indicators beginning to gain momentum and signal further gains to come.
For one, XRP's 30-day moving average (yellow) is very close to rising above its 200-day average (blue), something which form a golden cross and thereby point to a breakout.
Supporting this move is the coin's relative strength index (purple), which remains above 60 today after rising from close to 40 a couple of days ago.
This would indicate more rises to come, as would the fact that XRP's support level (green) is now rising again, providing the cryptocurrency with a stronger base from which to rise further.
As noted above, there are a couple of fundamental reasons as to why XRP is likely to continue rising in the shorter and longer term, with the altcoin also helped by renewed market optimism (because of BlackRock's ETF application).
For one, Ripple has provided news which reveals the further expansion of its
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