XRP continues to be one of the top gainers in the crypto market and appears set for a bullish rise in the coming days and weeks.
The token is up nearly 11% in the last seven days and has rallied more than 47% since early September after a series of announcements that some have taken as news they are close to winning their near two-year court case against the US Securities and Exhange Commission (SEC).
The latest win came on September 30 when a US District Judge, Analisa Torres, allowed for emails written by a former senior SEC employee to be used in the case.
The emails from ex-Corporation Finance Division Director William Hinman apparently describe ether (ETH) as not a security as, like Bitcoin, it is “sufficiently decentralized”.
The emails are a cornerstone of Ripple’s legal strategy in their defense that XRP is not a security.
That news brought a near instant pump of 16% over the weekend and bullish sentiment for the coin has remained, while long-term sentiment is extremely high – should XRP win its case.
Earlier in September, both sides agreed that a quicker summary judgment should be reached.
XRP Price Prediction
As CryptoNews analyzed on Tuesday, XRP – trading at $0.4886 at the time of writing – is breaking out of the symmetrical triangle and appears set to test resistance levels at $0.50.
If it breaks that level, it could reach as high as $0.65 in the short term.
Longer-term prices for XRP – which remains the sixth-largest crypto coin by market cap despite two years in court – are much harder to predict and will likely depend entirely on the outcome of the court case.
An XRP win has some analysts predicting a return to its all-time high of $3.84 from January 2018, while defeat in court would likely signal a mass selloff of the token.
Crypto analyst Jacob Bury predicts a win will see XRP reach $1 by mid-2023 and then rally for a 5-10x in the next crypto bull run.
An alternative to XRP is new ESG project IMPT, which has just launched its presale and landed $500,000 of funding in less than 48 hours.