As the majority of the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> has opened the week on a positive note, <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a> is not falling far behind, recording modest advances across multiple charts and triggering optimism that a run toward $0.53 might be possible.Indeed, the <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">XRP token</a> has recently swept higher but requires more confirmation before starting to target $0.53, as <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert Michaël van de Poppe observed in the analysis and chart he <a href="https://twitter.com/CryptoMichNL/status/1675561221439868931" rel="noopener noreferrer nofollow">shared</a> on his Twitter profile on July 2.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7b6682419cf645cd9934a0fa52527633.png" />XRP price action analysis and prediction. Source: <a href="https://twitter.com/CryptoMichNL/status/1675561221439868931" rel="noopener noreferrer nofollow">Michaël van de Poppe</a>According to him, XRP is not showing a clear structure, so it is early to say for sure whether this is a trend reversal or just a temporary move, but the odds are still in the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> asset’s favor.<h2 id="header-0">XRP price analysis</h2>As things stand, XRP was at press time changing hands at the price of $0.4827, demonstrating an increase of 0.68% in the last 24 hours and a $0.41 gain across the previous seven days as it tries to recover from the 7.79% drop on its monthly chart.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6da6fe9f9e4d48439b37b6f496ab9c19.png" />XRP 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">Finbold</a>At the same time, XRP finds itself at the center of a widely publicized <a href="https://finbold.com/ripple-v-sec-case-update-as-of-july-3-2023/" rel="noopener noreferrer nofollow">lawsuit</a> that could well determine its future, as the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) has sued its issuer, <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a>, alleging it illegally sold the token, which the <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulator</a> considers a <a href="https://finbold.com/topic/securities/" rel="noopener noreferrer nofollow">security</a>.In fact, if the case concludes in the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company’s favor, there is a chance it could send the price of XRP higher toward the <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> prognoses <a href="https://finbold.com/xrp-price-prediction-for-2023-2024-and-2025/" rel="noopener noreferrer nofollow">made</a> by the self-learning machine algorithms over at the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> tracking platform CoinCodex.Another development to factor into XRP’s possible price rise is its trading activity, which has recently positioned this digital asset as the <a href="https://finbold.com/xrp-defies-sec-headwinds-emerging-as-q2s-third-most-traded-crypto/" rel="noopener noreferrer nofollow">third most-traded</a> in the second quarter of 2023, while <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whales</a> purchased over 360 million XRP in the week between 22-28 June, as Finbold <a href="https://finbold.com/whales-make-a-ripple-with-360-million-xrp-purchase-is-0-55-next/" rel="noopener noreferrer nofollow">reported</a> on June 29.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

XRP sweeps higher and raises the stakes: Is $0.53 in the cards?

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