XRP shows bullish sentiment amid anticipated SEC lawsuit closure

Ripple vs. SEC is expected to fetch a positive verdict for the holders of XRP or even those looking to get on board with the cryptocurrency. This would subsequently result in an upward rally for the token value from its current position. For reference, XRP is listed at $0.6154 at the time of writing this article. This optimism further stems from the fact that its performance in the last 7 days has been praiseworthy, no matter the factors that have contributed to it.

For starters, the ongoing price point is a surge of 40.09% in the last 7 days and 13.19% in the last 24 hours. XRP has mostly traded in green. Therefore, red trades should be avoided right from the beginning of the week, starting July 10, 2024, and ending at press time.

XRP opened at $0.436 and closed the day at $0.439. Fluctuations were less than expected; the maximum and minimum values on that day were $0.44 and $0.43, applicable in the same order. The 24-hour trading volume and market cap were $1.47 billion and $24.27 billion, respectively. All of the factors have significantly improved in a span of 7 days.

XRP opened the market on July 16, 2024, at $0.538 and closed it on an upper note of $0.579. The token missed the $0.6 mark by a thin margin. The highest it could go was $0.59, with the lowest daily value of $0.534. Nevertheless, the market cap breached the milestone of $31.15 billion, and the trading volume surpassed $5.15 billion in value.

A massive jump came when the market opened on July 13, 2024. The initial point was $0.475, but the market cap jumped to $28.59 billion. The same category displayed a $25.69 billion mark the previous day. Since then, XRP has only continued to follow an upward path. The trend rather aligns with Bitcoin and Ethereum, as both flagship cryptocurrencies have been making strides in the last couple of days.

The trend for XRP was more or less the same on July 14, 2024, and July 15, 2024, except the volume plunged to $3.06 billion from July 14’s $5.83 billion.

This performance has helped to build a foundation for near-term predictions. XRP is poised to touch $0.738066 in the next 5 days, representing a 22.10% increase from the current value. It is further projected to exchange hands at $0.734264 in the next 30 days, a jump of 21.47% from the prevailing performance.

If not Bitcoin and Ethereum, buyer demand is likely to propel XRP. The price of XRP will only increase once the legal battle with the SEC has reached its verdict. This expectation is also supported by the fact that they have had a closed-door meeting; however, it is believed that this has occurred on numerous occasions in the past.