XRP Price Prediction – Can It Hold Overnight Gains And Reach $0.466 Today?
The XRP price has risen by 0.5% in the past 24 hours, reaching $0.456787. This marks a 2.6% decline in a week and a 1.5% gain in a fortnight, as the altcoin's value continues to be pulled in opposite directions by wider market pessimism and positive developments in the ongoing Ripple-SEC case.
Even with its losses in the past few days (which are in keeping with rate hike-caused market declines), XRP remains one of the best-performing top-100 coins of the past 90 days, during which period it has risen by around 20.7%. This medium-term momentum is likely to be continued as the market recovers from yesterday's Federal Reserve-inspired selloff, with XRP on course to regain its seven-day high of $0.479406.
XRP's technical indicators highlight how the altcoin remains in a good position, with its 30-day moving average (red) still in the process of rising higher above its 200-day average. At the same time, even with yesterday's losses, its relative strength index (purple) is hovering around 50, revealing that it hasn't lost a significant amount of momentum.
In other words, XRP is well-placed to continue rising again as soon as the market shakes off the Federal Reserve's rate hike from yesterday. Not only does it remain grossly undervalued, but the fact that Ripple's case with the SEC is entering its end phase will continue driving demand.
Indeed, all available evidence suggests that Ripple will secure a favorable settlement in this case. Most recently, Coinbase applied this week to file an amicus brief in support of Ripple and the latter's fair notice defence, something which could boost Ripple's case considerably.
More generally, XRP's fortunes have been improving ever since the middle of September, when both Ripple and the SEC
Read more on cryptonews.com
