After finally snapping the shackles of its extended low volatility phase, XRP jumped above the $0.38-baseline. September-end updates in the SEC v. Ripple lawsuit proved to be a catalyst for its solid bull run over the last few days.

Here’s AMBCrypto’s Price Prediction for XRP for 2023-24

After reversing from the $0.51-level, the altcoin chalked out a bullish pattern on its daily chart. The 200 EMA (green) could reignite rebounding tendencies in the coming sessions.

At press time, XRP was trading at $0.4902.

Source: TradingView, XRP/USDT

While cramming in the $0.3-$0.38 range for nearly three months, XRP highlighted mixed investor sentiments amidst its ongoing lawsuit.

After an expected rebound from the $0.3-baseline, the altcoin witnessed a bullish engulfing candlestick, one that set the stage for an exponential rally. The resultant buying comeback led XRP to finally break above its daily 20/50/200 EMA.

In the meantime, the altcoin witnessed a bullish pennant-like structure while the buyers inflicted an expected breakout over the last two days. Generally, bullish pennants are more effective in an increasing volume trend. However, XRP noted a decreasing trend during the formation of the pennant.

A decline below the 200 EMA could open doorways for a near-term retracement. The sellers would look to retest the $0.448-support before a likely revival.

However, a bounce-back from the 200 EMA can extend the ongoing bull run. In this case, the first major resistance would lie in the $0.512-region followed by the $0.56-level. A bullish crossover of the 20/200 EMA could confirm a strong buying edge and