Following Ripple Labs’ triumph over the US Securities and Exchange Commission (SEC), the value of the company’s native XRP coin skyrocketed. It’s conceivable that the price of XRP may rise by more than 95% from its end of November $2.40 level following the court victory.
The current surge in Ripple (XRP) may be primarily ascribed to two factors: a broad correction in the market and a noteworthy legal victory against the SEC.
XRP: Ripple’s Trading Volume Soars 234% Amid Price Rebound
Investor morale has improved as a US court partially dismissed the SEC’s complaint, finding that XRP qualified as a security.
XRP Analyst Bullish: Technicals Point to 900% Uptrend for Ripple,XRP Analyst Bullish: Technicals Point to 900% Uptrend for Ripple
Does Ripple reach the moon?
In a post on X (previously Twitter), cryptocurrency specialist Tony “The Bull” disclosed a bullish technical pattern that was last observed in 2017. If this trend keeps happening, XRP’s market value might increase by 900% from its peak of $3.40.
Performance of XRP in November
As of the time of publication, XRP was trading at $0.633, a 4.7% decrease from the previous day.
The asset hasn’t done as well as its competitors in November thus far. Nonetheless, a lot of investors are still confident in the project’s prospects.
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Tony “The Bull” is also upbeat, speculating that XRP may hit $2.40 by the end of November. He views this cost as a significant turning point for the asset.
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