XRP Price Prediction – XRP Targets $0.50, Can it Surge to $1?
The XRP price has risen by 1.5% today, reaching $0.476671 in the past 24 hours. Its jump comes amid a similar bounce for the market as a whole, yet XRP continues to outpace average rises in the past month, having risen by an impressive 27%.
XRP has been outperforming the market since last month, helped on by positive developments in the legal battle between Ripple and the SEC. However, the fact that it remains 86% below its 2018 ATH (of $3.40) suggests that it still has plenty of room left to rise, and that it could easily surge past $1 in the coming months, especially if the aforementioned case reaches a conclusion.
While XRP is up in the past 30 days, it remains down over the year to date, by 42.5%. This, however, is a smaller fall than for the market as a whole, which has seen its total cap plunge by 57.8%.
As its chart over the past 12 months reveals, XRP is enjoying good momentum right now, momentum which looks like it still has space to continue.
Its relative strength index (purple) remains above 50, having fallen in the past couple of days as a result of market-wide forces. At the same time, its 30-day moving average (red) has overtaken its 200-day average (blue), signalling a possible breakout to a new level.
XRP's performance at this precise moment in time depends to a large extent on global macroeconomics, which remain subdued. That said, ongoing developments in the Ripple-SEC case provide it with the chance to continuing outperforming the market.
Its impressive 30-day gain is largely the product of both Ripple and the SEC submitting motions calling for a summary judgment. This would bring the case to a settlement, without a full trial, and needless to say it created plenty of market excitement on behalf of XRP.
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