Ripple’s XRP token has enjoyed a magnificent rally to $1.44 after rising by 59.28% from Friday’s low of $0.87.
The world’s fourth largest cryptocurrency by market cap is 11.29% up over the past 24-hours following developments in XRP’s legal case with the SEC.
The US regulator is currently investigating Ripple over sales of the XRP token that is alleged to have been an unregistered sale of securities.
However, XRP’s recent price action suggests that investors believe a positive outcome will be made, in spite of skepticism from the wider cryptocurrency industry.
From a technical perspective, if XRP can take out the psychological level of resistance at $1.50, it will likely go on to test the yearly high of $1.97 before attempting to break its 2018 all-time high of $3.31.
However, a rejection from here will see XRP fall back into wide range between $1.16 and $1.45, with downside price targets beginning to emerge back down at $0.87.
Much of it will also depend on the trajectory of Bitcoin, which has recently risen from $47,000 to $55,000 after investors capitalised on an oversold territory beneath $50,000.
If Bitcoin can continue its rally from here, upside price action will also be reflected across altcoins like XRP, ETH and LTC.
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Latest Ripple price
Current live XRP price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
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