Xrp Trades High

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Xrp Trades High

Xrp Trades Near $0.60 On Hopes Of Lawsuit Settlement

Ripple (XRP) is currently trading near $06.00, an important level if we look at the past price action. The Ripple (XRP) came into the headlines as one of the coins that secured the highest weekly gains this year.

In the span of a week, Ripple (XRP) gained more than 40%, which was one of the highest weekly gains in 2024. What's more impressive is that Ripple (XRP) has also managed to hold on to 21% of the gains it made during the last seven days.

Ripple (Xrp) Faces Next Resistance At $0.6666

But what's driving the Ripple (XRP) market? The Ripple vs. SEC lawsuit led to some big moves in July. Right now, the creation of the XRP and Bitcoin is moderate, with a value of 0.67.

There's no doubt that Ripple (XRP) is in a bullish trend, as evident from the higher highs/lows formed on the D1 chart. If this trend is sustained, Ripple (XRP) could likely touch $0.70 with additional gains of 15%.

However, there's another resistance near $0.666, which can prove to be a roadblock before the $0.70 target. Once that level is cleared, the Ripple (XRP) will encounter the next resistance at $0.7440.

The MACD indicator on the Ripple (XRP) chart also shows that the altcoin has managed to sustain positive momentum in the recent past.

Recently, Ripple's CEO gave an interview in which he hinted that the lawsuit could be settled in July through a private meeting. It is important to note that Ripple company has already spent more than $150 million in the process of litigation.

If we look at the lawsuit, one argument that remains consistent and repeated is that XRP is not a security. As for the SEC, they believe that XRP is a security.

In simple words, Ripple's CEO has made it clear that a resolution should be expected soon. If this turns out to be true, it would be a major step for Ripple (XRP) and will likely take it to new heights near $0.70, $0.80, and even $0.90.

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