XRP Price Prediction – Can XRP Surge 30% This Week

cryptonews.com:

XRP price is in limbo, awaiting the outcome of the SEC vs. Ripple lawsuit. Since mid-September, the cross-border money remittance token has outperformed many of the other altcoins in the market. However, XRP price has since encountered immense selling at $0.5312, trimming gains to exchange hands at $0.4677 at the time of writing.

Despite XRP’s ongoing retracement, its technical and macro outlooks remain strong and positive. 

The SEC (Securities and Exchange Commission) lawsuit against Ripple Labs and its top executives is inching to a close. Brad Garlinghouse, the CEO of Ripple Labs, expects the curtains to close on the case by no later than early 2023.

XRP price has waded through the mud since the case started, with top cryptocurrency exchanges like Coinbase delisting it. The international money remittance token failed to surpass its all-time high as the majority of crypto assets in the market set new historical highs in 2021.

However, XRP price turned the tables mid-September – and rallied approximately 78% from $0.3133 to $0.5594. Investors and analysts are optimistic about XRP price lifting to $1.00 in the coming weeks. A positive outcome from the lawsuit, which is seeming increasingly likely, could send the XRP price past its all-time of $3.84 set five years ago.

XRP price is hovering around $0.4677 at the time of writing – holding firmly to support given by the rising trendline. If this support stays in place, recovery will ensue, pointing the price to a 20.45% breakout (measured from the breakout point, the x-axis).

XRP price will then look to move an additional 14%, the distance from the current market price to the x-axis. A rising triangle is bullish and appears after a significant upside move in price followed by a