• The XRP price has seen a recent surge with the expectation that Ripple will win its case against the SEC.
• Wall Street Memes presale is also raising over 1 million dollars, making XRP one of the altcoins to watch out for in 2021.
• Recent SEC emails suggest that the Ripple-SEC case will end up more in Ripple’s favor, which could lead to a massive rally in XRP price.
Ripple Price Prediction – XRP on Court Case
The long-running legal dispute between Ripple and the SEC is due to end soon, which is causing speculation that this could be positive outcome for the cryptocurrency firm. This has been reflected in a 5% rise of XRP’s price over the past 24 hours, now sitting at $0.502702 with an 8% rise in a week and 18% increase over two weeks. As well as increasing by 47% since 2021 began, Wall Street Memes Presale has raised over $1 million, indicating that XRP could be set for big surges this year.
Reasons Behind Surge
XRP’s chart reveals strong momentum that doesn’t look like fading away soon. The coin’s 30-day moving average (yellow) is far above its 200-day average (blue) indicating a breakout to a new longer-term level while its relative strength index (purple) has surpassed 70 signaling healthy buying pressure from investors. 24-hour trading volume of $1.5 billion is also healthy compared to $500 million over the weekend, revealing investors buying up before any potential positive outcome from the Ripple-SEC case comes through.
SEC Emails Indicate Positive Outcome
Recently released emails from the SEC indicate they had received legal advice prior to opening their case against Ripple that “XRP does not satisfy all elements of the Howey analysis and is therefore not a ‘security’ for purposes of federal securities laws.” This suggests there may be grounds to believe that Ripple may succeed in their fight against regulatory action taken by the SEC and could lead to a major rally in XRP prices if it turns out true when we get closer to judgement day.
Despite these signs pointing towards possible success for Ripple, it’s still important to remember there are risks associated with investing in cryptocurrencies such as XRP or any other altcoin you might be looking at investing into this year including volatility and market manipulation by whales/institutions so make sure you do your own research first before making any decisions!
All indications point towards good news ahead for those invested or considering investing into XRP as expectations continue to grow around positive outcomes from the ongoing court battle between Ripple and US regulator -the SEC-. With Wall Street Memes presale already surpassing 1 million dollars mark adds further optimism amongst crypto investors so keep your eyes peeled for what happens next!