XRP Price Prediction as XRP Pumps Up 12% in 7 Days – $1 Incoming?

cryptonews.com:

The price of XRP has barely moved in the past 24 hours, although its current level of $0.506955 marks a 12.5% gain in the past seven days.

Increasingly positive sentiment regarding the Ripple-SEC case has enabled XRP to beat the market this week, with the altcoin also up by 48.5% since the beginning of the year.

A number of recent developments in the aforementioned case have led investors to believe that Ripple will be on the receiving end of a positive summary judgment or settlement, with the market beginning to bet that the price of XRP will rocket as a result.

And with a decision expected in the next few months, XRP could end up enjoying the biggest rally of any major cryptocurrency this year.

XRP's chart suggests that the altcoin has lost some of the momentum from its rally earlier this week, with its indicators beginning to weaken somewhat.

Its relative strength index (purple) has fallen away from its earlier position above 70 and has slipped towards 50, signalling a loss of momentum.

Likewise, XRP's 30-day moving average (yellow) is now sliding downwards and could be heading towards its 200-day average (blue), potentially forecasting some falls.

However, it's likely that any falls would be relatively minor, given that the coin's support level (green) is holding up well and actually rising slightly.

For this reason, it's tempting to conclude that XRP has consolidating quite firmly around a new higher level, and may stick to $0.5 for the forseeable future.

And even though its rally of the past may have ebbed a little, it's in an increasingly strong position as far as its fundamentals are concerned.

That's because recent developments suggest that Ripple is now positioned nicely to get a positive result from its long-running