Ripple’s XRP is currently leading the crypto markets: In the last 24 hours, XRP has risen sharply, more than all other coins in the top 100. Possible reason: Judgment day is near. The ongoing lawsuit with the SEC is expected to end soon – and analysts are confident that Ripple can win the lawsuit. Could it be worth buying XRP now?
XRP explodes: +13% in 24 hours
Ripple investors should be pleased with this sight in the portfolio this morning: XRP is pumping, marking new local highs in the past 24 hours as bulls have driven the asset as low as $0.4169 from highs. yesterday’s low of $0.37 up almost 13% in one day. No other cryptocurrency comes close today.
As expected, there was some profit taking at the peak of the mini-rally. They took the XRP price a bit south – down to $0.4105, where XRP is currently trading. The volume is around $1.6 billion + 54% higher than the previous day – so XRP markets could see further moves up or down during the day.
Top trader Mayne comments: XRP in the lead – although not sure if this is a good sign. But what he does know is that when XRP explodes, the coin can really explode. Mayne:
“I don’t know if all these dino coins, $LTC, $XRP, etc. are a good omen or a bad omen.
What I do know is that when they pump, they can pump hard.
Enjoy while it lasts.”
Possible reason for the price explosion: The legal dispute between Ripple and the United States Securities and Exchange Commission, which has been going on for almost two years, is coming to an end. According to Australian legal expert Bill Morgan, this could happen in just a few weeks. He also reveals a very specific date on Twitter:
“In summary, if avoiding public disclosure of Hinman’s ‘shameful’ documents is as important to the SEC as its 18-month categorical denial of disclosure suggests, and a real pressure point for settlement, I would suggest that, to be sure they settle with Ripple by January 9, 2023 or very soon after.
In this case, predictions call for massive buying pressure for XRP, which will drive the coin to new highs.
Ripple’s XRP forecast from 2022 to 2027
XRP is currently trading at $0.41. How high could the room go?
- Walletinvestor.com considers XRP a “bad” investment and sees the price at just $0.37 by November 2023.
- Gov.capital’s current forecast is significantly more bullish on Ripple’s XRP: it sees XRP exploding above $1 in the next 12 months – and even to $4.875 by 2027. Compared to the current price, this corresponds to a yield of 1089%.
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