XRP Price Prediction – Can XRP Hit $10 After Bear Market?
The XRP price has recorded a 0.5% gain in the past 24 hours, and is up by 1.5% in the past week. At $0.488148, it has also risen by 37% in the last 30 days, buoyed by market expectations that Ripple's ongoing legal tussle with the SEC has entered its end phase.
XRP is one of the best-performing top 100 cryptocurrencies over the past month, and this is largely because developments in Ripple's case have increasingly fallen in its favor in recent weeks. And assuming that the legal battle does end favorably for the company in the next two or three months, there's a very strong chance that XRP will rise significantly.
XRP's recent gains have outperformed the market, which happens to be down by 12.3% during the past 30 days. It's also worth pointing out that, since the SEC launched its legal action against Ripple and two of its executives on December 22, 2020, the XRP price has increased by an impressive 130%.
Such an increase should be taken as a sign that the market believes Ripple has a very good chance of emerging from its case with a positive outcome. Indeed, looking at the market as a whole again, average cryptocurrency prices are up by a less impressive 37% over the same timeframe.
What's even more bullish about XRP's increase since the end of 2020 is that its current level has been held back by a bear market. With the global macroeconomic situation continuing to leak fairly bleak, prices have either remained subdued or fallen, yet XRP has bucked this trend to an extent.
As such, if Ripple does secure a good result with its case -- and the market rediscovers a more bullish environment -- there's every reason to believe that the price of XRP could appreciate considerably. Its current all-time high is a relatively modest
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