TL;DR
- XRP’s Performance: Ripple’s XRP recently surpassed the $0.60 mark, the highest level in 11 weeks. This surge is attributed mainly to the favorable progress in the Ripple-US SEC lawsuit and the rediscovery of advice from legal scholar Joseph Grundfest cautioning the SEC against suing Ripple.
- Market Context: XRP’s rise stands out as most major cryptocurrencies have shown mild gains or maintained their previous levels.
- Future Outlook: Some analysts, like Dark Defender on Twitter, believe XRP could climb to $0.66, citing the formation of a “Bull Flag Pattern.”
XRP Among the Top Performers
Ripple’s native token – XRP – has been among the best-performing cryptocurrencies lately, with its price spiking towards fresh peaks. Several hours ago, it crossed the $0.60 mark for the first time in 11 weeks. The leading factor behind the uptrend could be the positive development of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC).
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