XRP prices soared, topping the gainer’s list, after speculations about the final settlement of the Ripple VS SEC case heated up. At press time, XRP was trading at $0.6479, up over 8.16% from the same time last day.
As the Securities and Exchange Commission’s (SEC) lawsuit moves closer to a possible settlement, Ripple (XRP) is going through a crucial period. The cryptocurrency market is closely monitoring this issue, hoping that a positive resolution may spark a substantial increase in XRP’s price.
Pro-crypto lawyer predicts Ripple vs SEC settlement date
Judge Analisa Torres presides over a massive legal struggle of the Ripple litigation, which might be resolved by July 31, according to pro-crypto lawyer Fred Rispoli.
Due to this legal dispute, XRP traders have been on high alert, expecting either a compromise with the SEC or a significant final decision.
While Ripple’s market position has been greatly strengthened by its partial victory in July 2023, which established XRP as a non-security, a degree of uncertainty remains due to the looming potential of an SEC appeal.
Will XRP see more green trading?
The market’s recent estimate for the price of XRP is that it will increase by 21.22% by August 29, 2024, to reach $ 0.763396. Other technical indicators indicate that the current mood for the token is bullish, and the Fear & Greed Index is currently reading 67 (Greed).
Over the previous 30 days, Ripple had 21/30 (or 70%) green days and 13.49% price volatility.
According to data, the overall sentiment for the price prognosis of XRP is bullish, with 27 technical analysis indicators indicating optimistic signs and 3 indicating bearish signals.
Ripple‘s 200-day SMA will rise next month, and its short-term 50-day SMA is predicted to reach $0.676082.
The momentum oscillator known as the Relative Strength Index (RSI) is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). The RSI number right now is 63.69, meaning that the market for XRP is in a slightly neutral position.
