Ripple’s XRP has risen more than 40% over the last seven days, a surprising increase. This gives XRP renewed hope of breaking the $1 barrier this year. According to, the asset has continued its recent rise, exceeding $0.6 on Wednesday, with a 4.2% increase in the past 24 hours. CoinMarketCap.
The token continues its massive reversal in July with a 52% increase. The asset struggled earlier in the calendar year to gain traction. For several months it remained at $0.5 with no movement. It could now be gearing up for a massive surge, as the long-running lawsuit it has been fighting with the US Securities and Exchange Commission is about to conclude.
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Ripple could target $1 by 2024 amidst July Rally
Ripple’s price reached a new high of more than a month this week when it exceeded $0.62. Traders felt renewed hopes for $1 XRP in the coming year. A settlement in the ongoing SEC lawsuit could be the catalyst for a huge surge. It is unclear when this agreement could be reached.
On July 18, the SEC will be meeting with Ripple in an exclusive closed-door session. However, former SEC lawyer Marc Fagel The meeting was just one aspect of ongoing litigation. Many still believe that this case should be concluded by the end of October.
Lawyer Fred Rispoli Recent predictions predicted the end of the litigation on July 31, 2018. The price spike is probably due to this anticipation. Long before the end of the court battle, the crypto market expected XRP’s value to soar.
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Analyst firm Onchain Santiment Recently, the firm has noted a change in activity among crypto traders. The firm states that the shift is due to “bullish narratives” Over the past week, a major explosion has occurred. Platform noted that XRP is “making an emergence,” Ripple News has not changed much.
Ripple has recently been a topic of discussion transferred 150 million XRP tokensThe speculation is only fueled by this. This stash of more than 87 million dollars has fuelled the rally in the prices. Ripple has transferred the same amount of tokens on 10th July. This type of transaction creates uncertainty on the market. The unexpected rise in XRP could be a result of this.
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Source: watcher.guru
