Will Ripple (XRP) Continue Its Rise With Its Recent Success?

XRP Comment! How many dollars will XRP investors target next? Is the SEC and Ripple lawsuit over?

After the SEC application, which we announced as breaking news, the XRP price increased by double digits. Hopes are now rising that the lawsuit will end. For nearly 2 years, XRP investors have been seriously worn out in the middle of the legal battle initiated by the SEC. XRP, which could not approach the ATH level last season, fell below $ 1. So what will happen next?

Ripple (XRP) Case

At the time of writing, the price of XRP was at 0.4389, above $0.42. We mentioned the other day that the $0.39 region was extremely important. XRP is finally continuing to rise. Behind this rally lies the latest request submitted to the judge by the SEC and Ripple Labs. The parties are now tired of this fight and think that there is enough data for summary judgment. Seeing that Ripple was right, the SEC gave up hope for a clear victory. Accordingly, we may see the end of the XRP case before the end of 2022.

The current documents have been uploaded to the court's repository, and the judge will now decide whether to find for the prevailing party or dismiss the case. The SEC will then go after other XRPs that are clearly securities. Indeed, it has already begun preparing for class actions. Ripple will now be free from the negativity of the lawsuit and will be able to concentrate on the blockchain solutions it will offer to giant companies and governments. And of course, XRP investors are hoping that the price, which has been suppressed by the SEC lawsuit, will now be set free.

Will Ripple (XRP) Rise?

In our last technical analysis, we pointed to the persistence above $0.39 and the resistance of $0.42 and $0.45. For now, Ripple (XRP) is moving towards the next resistance with a 10% rise. The ultimate target in the short term could be $0.48. If the momentum continues and there is positive news about the case, we can expect this rise to continue.

XRP is up 17% recently, while Bitcoin is down 5% and Ethereum is down 16%. Santiment explains this situation as follows;

"Optimistic developments about the ongoing fight between Ripple and the SEC have excited investors. This situation also attracted the attention of whales".

Will Ripple (XRP) Continue Its Rise With Its Recent Success?

XRP has performed incredibly well in the last few days. Last week alone, it gained nearly 30% on a rally from $0.32 to $0.42. But the recent gains don't mean much as XRP has lost 75% of its value in the past few months. XRP will need a massive 250% rally to break through the $1.38 level on volume to target the ATH level.