XRP price has barely moved up in the past 24 hours, gaining 0.1% and reaching $0.398191. This represents a 0.5% increase in one week and a 15.5% increase over the past 30 days, with XRP currently seeing 24-hour trading volumes in the region of $1 billion.
Such volume increases in relation to where XRP was trading at the beginning of the month indicate that the altcoin may be on course to recover some of the losses it suffered over the weekend. And with the outcome of the Ripple-SEC case expected in the next few months, XRP could soon be in store for some pretty big gains.
XRP Price Prediction $1 Billion Trading Volume In Flood – $1 XRP Coming?
XRP’s chart shows that it is on the verge of a rally. Its 30-day moving average (red) is about to surpass its 200-day (blue), which could signal a breakout to $0.4 and above.
Similarly, the Relative Strength Index (purple) of XRP has started climbing higher after falling below 50 over the past few days. Again, this shows that XRP is about to grow significantly.
This view is supported by 24-hour trading volumes, which remain elevated. In other words, this level of volume is only seen when a relatively large movement is about to occur, either up or down.
That said, 24-hour volume of $1 billion isn’t that big for XRP, as with the end of January – when XRP spiked to around $0.423, seeing a level of around $2.25 billion. As such, any rally is likely to be minor, unless volumes increase further.
Nevertheless, reports have suggested that whales have been accumulating XRP in recent days, raising the possibility of a significant movement in the near future.
This possibility is also heightened by the ongoing Ripple-SEC case, which could lead to a surge in XRP once it expires. And According to Ripple CEO Brad GarlinghouseIt will expire by the end of the first half of 2023, or by the end of the year at the very latest.
In fact, the general view is that both sides are now waiting on Judge Analisa Torres to reach some sort of ruling. For example, US-based lawyer James K. Filan tweeted on January 20 that “everything is brief”, indicating that all key pieces of evidence and testimony have been presented.
As expected, last week saw the Web3 platform LBRY To assault That is, the appeal hearing of its own case against the SEC, namely against the SEC, brought a declaration from a judge that the sale of LBC tokens to third parties does not count as the sale of unregistered securities.
Simply put, exchanges selling LBC is not something that violates US securities law. This could have major implications for the Ripple case, as even if the court finds that Ripple itself sold unregistered securities, such a ruling would not prevent exchanges from continuing to support the trading of XRP.
In light of all this, many observers believe that Ripple has a strong case, with a chance to obtain a judgment or settlement that will enable it to continue its business. If this happens, XRP will almost certainly rally big.
And in the long term, Ripple’s clearing will enable it to substantially expand its own business. What is impressive is that it has already been able to grow during matter Q4 2022 XRP Market Report Considering that it generated $226.31 million in pure XRP sales in that quarter alone.
In light of all this, XRP is likely to cross the $1 barrier in the coming months. From there, it could rise to $2 and higher, potentially upsetting its current all-time high of $3.40, set back in January 2018.
Some XRP holders are even targeting $5 or higher based on its fundamentals and the positive conclusion of the Ripple-SEC case. This may sound overly optimistic, but time will probably justify such optimism.
Alternative Altcoins for XRP Holders
While XRP is due for a substantial rally at some point in the future, it may not come for several months. So if you are looking for XRP as well as other high-potential crypto projects, we review the top 15 cryptocurrencies for 2023, as analyzed. crypto news Industry Talk Team.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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