This XRP huge fall was the result of an SEC lawsuit that charged the enterprise’s executive brass with the violation of section 5 of securities acts. The SEC has managed to keep the case alive in the courtrooms, and it is going after the foreign correspondence of the enterprise. However, these obstacles have not managed to keep the XRP from moving ahead in the game.
After a slew of court victories, the XRP started to be traded on platforms like Coinbase, Binance, and Huobi. During the recent months, the company has also entered into several contracts with Middle Eastern and Asian companies. During the last 24 hours, XRP reached as high as $0.9, getting spectacularly close to the 1 USD mark.
What is XRP Investors Saying about this New Turn of Events?
The XRP users are overjoyed with the new increase in price. One enthusiastic investor who goes by the name of Crypto candy on Twitter claimed that once XRP could reach $3, it would get a direct boost to rise as high as $10. This remark might feel filled with a lot of confidence and zeal. However, other more serious investors also second this opinion.
Two more cryptocurrency influencers on social media that go by the pseudonyms of Crypto Future and Credible Crypto mentioned in a thread that 10 to 30 USD evaluations for XRP are not an unrealistic goal by any means. On the other hand, they even said that it would not be out of reason to hope for a 20-30 USD for XRP user at this point.
The Technical Analysts Claim that XRP is Enjoying the Ongoing Lawsuit
Peter Brandt is an expert economist and chartist. During the crypto market fever, he has not hesitated to share his strong opinions with his followers time and again. Speaking on the matter of the latest XRP spike, he said in a tweet that XRP coin is reaping the benefits that have become apparent from its SEC lawsuit news coverage. He also claimed that the diminished popularity of the token has started to get revived with time.
He even hinted at possible new ATHs for the current XRP bull run. It should be noted that Brandt has been among the people who referred Ripple labs to XRP publically. Another crypto influencer from New Zealand, Alex Saunders, shared a historical behavior chart for XRP and remarked that the attention of investors would soon shift from DOGE to XRP.