With Ripple celebrating a year anniversary of a critical ruling in its ongoing legal battle with the US Securities and Exchange Commission (SEC), analysts predict XRP to surge to $0.66 as the tokens’ volume skyrockets. Moreover, investment interest has also surged, only strengthening the forecasts.
XRP has surged above the $0.52 level following a 25% increase over the last seven days, according to CoinMarketCap. Additionally, the crypto has seen transactions increase to as much as $2.55 million, despite reversing to its current $1.6 million level. Still, there is reason to be optimistic for the token’s performance.
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XRP Could Continue Surging Far Above $0.6 Level, Analyst Says
In a post to X (formerly Twitter), crypto analyst Dark Defender predicted that Ripple (XRP) could surge to the $0.66 level as its volume skyrockets. Indeed, the analyst noted that the crypto broke resistance at the $0.46 level. Moreover, he noted even more gains to come if it could “close this week’s candle above $0.53.”
Next week, the analyst said the token should test another resistance at $0.6044, which will be an important moment. It could pave way for its $0.66 rally. Additionally, he noted the potential for a path to “heaven’s stairway.” The indicator would point to a bullish surge and notable price increases.
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CoinShares also released a report noting a 250% investment flow increase for XRP. Indeed, Ripple saw more than $1 million enter exchange-traded products last week. That figure was a notable increase over the $400,000 it enjoyed a week prior. Many are looking toward an impending SEC verdict as the reason for renewed interest.
Ripple CEO Brad Garlinghouse recently celebrated an important XRP anniversary. Taking to X, he discussed the July 13th, 2023, ruling that classified the crypto as a security. Gensler noted the importance of the day amid the ongoing fight. “They were wrong then. And they are wrong now,” he wrote.