XRP Price Prediction: Will the Rally Continue After the Recent 40% Weekly Surge?

XRP has experienced a significant price increase in the past week, drawing the attention of prominent figures like Moon Lambo (@MoonLamboio), who has been constantly supporting XRP.

Prominent crypto figure Moon Lambo is highlighting XRP’s impressive price surge, suggesting that the coin could be gearing up for price discovery and a potential new all-time high.

At press time, XRP trades at $0.6146, reflecting a rise of 15.02% in the last 24 hours and a substantial 40.58% increase over the past week.

This bullish trend began around the anniversary of the pivotal ruling in the legal battle with the U.S. Securities and Exchange Commission (SEC). In July 2023, the court ruled that XRP is not a security, boosting investor confidence and leading to a massive rally to $0.93.

Skepticism Among XRP Investors

In a recent post, Moon Lambo pointed out the correlation between XRP’s rise and the broader market uptick in small-cap stocks. He argues that if this trend continues, XRP could be poised for price discovery.

However, skepticism lingers within a segment of the XRP community despite the impressive gains. One user expressed doubt about XRP ever exceeding $3, while another seemed to adopt a wait-and-see approach, indicating that he would up his investment at higher prices, around $1.50 or $2.50.

It is crucial to note that $0.6 represents a critical resistance level for XRP, a level it hasn’t breached since a price crash in mid-April. Overcoming this hurdle could be a significant indicator of future price movement.

However, not everyone sees it this way, as one user called the $0.6 level meaningless.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Will the XRP Rally Continue?

Although many are optimistic about a bullish future for XRP, the ongoing lawsuit could quickly change the narrative. While the July 2023 ruling was a positive step for Ripple, the lawsuit’s ultimate outcome remains up in the air.

Recently, an ex-Ripple director shared his thoughts on XRP’s future after the lawsuit, suggesting that XRP might not have a future to rise significantly until the lawsuit ends. But this bullish future will not come if the court rules in favor of the SEC.

However, XRP’s recent price surge offers a glimmer of hope for investors. There are many reasons to be bullish on XRP. As Moon Lambo pointed out, when an XRP surge happens, it usually happens very quickly.

XRP often surprises investors, and all the uncertainty beforehand won’t matter when the rally begins. Only time will tell if this rally marks a sustained upward trend or a temporary blip in XRP’s price history.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

Follow us on Twitter, Facebook, Telegram, and Google News

The above is the detailed content of XRP Price Prediction: Will the Rally Continue After the Recent 40% Weekly Surge?. For more information, please follow other related articles on the PHP Chinese website!