XRP Price Prediction as XRP Rockets Up 69% in 24 Hours Following Positive Lawsuit Conclusion – Can XRP Reach $10 Today?
The XRP price has ballooned by 69% in the past 24 hours, after Ripple celebrated the arrival of a largely positive ruling in its long-running legal battle with the SEC.
At $0.785, XRP has now risen by nearly 150% in the last 12 months, following Judge Analisa Torres' ruling that most of Ripple's XRP sales did not count as the offering of unregistered securities.
While Torres has concluded that sales of XRP to institutional investors did violate US securities law, the overall market sentiment is that the ruling is mostly favorable to Ripple, enabling it to continue its business as normal.
And with exchanges already relisting XRP for its customers in the US, it would seem that the altcoin is still likely to make further gains in the short-term, as well as longer term.
XRP's chart and indicators make it abundantly clear that the altcoin is being pushed by a sudden surge in buying momentum.
XRP's relative strength index (purple) has shot above 70 in the past day, with its 30-day moving average (yellow) also moving up towards its 200-day average (blue).
Both of these changes signal very strong buying pressure, while it's also safe to say that XRP's support level (green) is likely to stay comfortably above $0.50 for the forseeable future.
Indeed, based on its sheer momentum at the moment, XRP could easily rally to $1 by the close of the weekend, as the market fully digests yesterday's momentous ruling.
As noted above, Judge Torres' ruling sided with Ripple's arguments on numerous counts, with the judge also making it clear that XRP in itself is not a security.
And while Torres didn't specifically pass judgment on secondary sales of XRP (i.e. between traders on exchanges), her rulings on Ripple's programmatic sales and other
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