XRP price is up barely 0.2% in the last 24-hours and is currently trading at $0.517976, representing a 15% gain over the past week.
The altcoin is also up 36% over the past 30 days and 52% since the beginning of the year, with positive expectations regarding the outcome of the Ripple-SEC case largely responsible for the market’s recent outperformance.
And with some observers expecting a very soon conclusion to the matter, it may not be long before XRP sees further rallies.
XRP Explodes as XRP Price Prediction Overcomes $0.50 Resistance – $1 XRP Soon?
XRP’s indicators are still occupying a bullish position, and while they may have a bit more room to move further, they could easily see a correction in the near term.
Its Relative Strength Index (purple) has dipped recently after crossing 70 a few days ago, although its 30-day moving average (red) continues to move above its 200-day average (blue).
Thus, there could be more upside in the coming days before XRP’s momentum drops too much and it has to endure a correction.
That said, if Ripple secures a positive decision or settlement in its case with the SEC over the next few days or weeks, XRP could easily start an even bigger rally, defying its current indicators in the process.
Interestingly, Whale Alert recently revealed that Ripple has been sending millions of dollars in XRP back to its escrow wallet, with several large transfers happening over the past few days.
assume that Ripple usually deposits and withdraws XRP to these wallets to maintain a constant supply of the coin.Reactions to these recent transfers has been suggested that they may signal a selloff in the near term.
This idea is likely supported by another large transfer, in which a whale sent nearly $11 million in XRP to Bitstamp over the past 11 hours.
However, even with this short-term bearishness, it is clear that if Ripple achieves the equivalent of a victory in its case with the SEC, XRP is bound to soar.
A decision in the case could come at almost any moment now, with a recent analysis by attorney John E. Deaton suggesting that it could come at any point between the next few days and the next few months.
And when the long-awaited decision finally comes, there is an expectation (at least within the cryptocurrency community) that it will be positive for Ripple, allowing the firm to continue with its business as before.
This is based on the assumption that, while Ripple has presented a strong case in its defense, the SEC has put together a generally weak case, in that it has mostly failed to substantiate its key arguments and claims.
For example, last month the decision was brought to exclude one of the SEC’s expert witnesses, who was asked by the regulator to testify that XRP buyers had a reasonable expectation of profit when they initially bought their tokens from Ripple. .
it’s not lonely decided to go the Ripple way In recent months, the firm has also famously secured the right to present a fair notice defence.
It has been able to submit about 14 amicus briefs to the court (including one from Coinbase) in its defense, whereas the SEC had only one.
Taken together, developments like these call for a scenario where Ripple has a good chance of winning, and where XRP skyrockets as a result.
Such a skyrocket would almost immediately follow a positive outcome, yet the price of the altcoin would also steadily increase in the coming months, as Ripple expands its business.
Ripple continues to grow, with XRP ledger accounts increasing by nearly five million despite the case hanging around since it started in December 2020.
Ripple’s financial report XRP’s steady net sales also reflect that, with the company expanding its cross-border payments business into several new markets in recent months.
Thus, it is not unreasonable to expect XRP to reach $1 in the weeks following Ripple’s victory, and it could rise even higher by the end of the year.
Expecting a return to more bullish market conditions, XRP could also beat its current high of $3.40, which was set back in January 2018.
XRP Alternative: The New Web3 Token
While XRP is certainly poised for a major rally sooner or later, such a rally is not guaranteed, as it may even take a few months to arrive.
Because of this, traders may prefer to consider newer altcoins for above-average gains in the near-term, with presale tokens proving particularly profitable over the past year.
The newest and most interesting of these deals (DLANCE), which recently opened its Public Coin Offering.
DeeLance, an Ethereum-based recruiting and freelancing platform for the Web3 sector, plans to launch in beta by the end of Q2 2023.
It will enable freelancers to work with businesses in the crypto sector (and vice versa), while its native DLANCE token will enable users to pay for items within the DLANCE ecosystem.
The pre-sale is currently in its first phase, with a price of one DLANCE token at $0.025, though this price will rise to $0.027 (and $0.035 in the final phase) by the second phase.
Investors can participate by visiting Official Deals Website And connecting your wallet before using USDT or ETH to buy DLANCE.