XRP Price Analysis – XRP Is The Best Weekly Performer – New Highs Coming Soon?

XRP has increased by 0.5% in the past 24 hours, hitting $0.535868 while the overall crypto market has fallen by 1.5%. Over the last seven days, XRP has surged 20%, making it the top-performing coin in the top-100.

Additionally, it has gained 45% in the past two weeks due to the expectation that the Ripple-SEC case will end soon. Whales have been accumulating XRP by taking it off exchanges, contributing to its price growth. A favorable outcome for Ripple in the case will likely drive XRP’s price even higher.

XRP’s chart and technical indicators suggest a corrective selloff is likely, as its relative strength index (purple) has fallen from yesterday’s surge above 70. However, XRP’s 30-day moving average (red) surpassing its 200-day average may indicate a continued breakout rally.

While XRP appears overbought, it has been undervalued for a long time, and conventional indicators may not fully apply. Whale transfers away from exchanges suggest further gains are expected.

Although there have been significant XRP transfers to exchanges, suggesting some whales anticipate a corrective selloff, XRP will undoubtedly experience a substantial rally if Ripple wins its case with the SEC.

As previously mentioned, the case may be decided imminently, with some experts predicting a conclusion this week. However, lawyer John E. Deaton’s prediction of a decision this week appears less likely now that it’s Friday.

Although a decision regarding the Ripple-SEC case may come soon, Ripple CEO Brad Garlinghouse has maintained his position that he expects the case to end this year, regardless of recent price fluctuations. The Ripple community and the cryptocurrency industry are optimistic that the decision will be favorable and enable Ripple to continue its business, while exchanges can continue listing XRP.

This confidence stems from recent rulings that favored Ripple, including the exclusion of one of the SEC’s expert witnesses who was called to testify that XRP buyers expected to profit from their purchase.

This ruling is just one of several that indicate Judge Analisa Torres will likely rule in a way that isn’t too harmful to Ripple’s business. Once a decision is reached, Ripple’s business will likely expand more rapidly than in previous years. Despite the case’s impact on its growth, XRP Ledger accounts have increased to nearly five million, up from two million when the case began in December 2020.

Ripple’s financial reports demonstrate healthy XRP sales within its cross-border payment business, which has expanded to new territories in recent months. This positions Ripple for rapid growth after the conclusion of the case, potentially driving up XRP’s price.

After the case’s close, XRP could rise from its current price of $0.536367 to $1 within weeks, with the possibility of reaching $2 or $3 by year-end (depending on the timing of the decision). In the long term, XRP is expected to surpass its previous all-time high of $3.40 from January 2018, as the coin begins to recover from lost time and missed rallies.