Chair

Bitcoin

Impact

<ul>
 <li>Ripple’s XRP reached a 16-month high of $0.8452, the highest since early July 2023.</li>
 <li>Ripple secured a major legal win, allowing progress toward final judgment and halting class claims.</li>
</ul>
XRP has finally joined the crypto bull market, hitting a nearly 16-month high of $0.8452, a level last seen in early July 2023. Over the past 24 hours, XRP surged by over 23%, rising from an intraday low of $0.6866.&nbsp;
While major cryptocurrencies like Bitcoin benefited from Donald Trump’s recent US presidential victory, XRP was relatively muted. However, today the altcoin defies expectations and breaks the <a href="https://thenewscrypto.com/ripple-xrp-turns-bearish-after-recent-attempt-to-break-resistance/" target="_blank" rel="noopener noreferrer nofollow">prolonged bearish trend</a>.
The rally comes amid key developments fueling investor optimism. Firstly, Ripple Labs and CEO Brad Garlinghouse recently scored a major legal victory as a US court ruled in their favor, allowing Ripple to move with the final judgment and placing a hold on class claims. This ruling is seen as a crucial moment in the ongoing legal battle, offering Ripple a path to victory.
Adding to the excitement, 18 US states have <a href="https://thenewscrypto.com/bidens-sec-sued-by-18-states-for-overreach-in-crypto-crackdown/" target="_blank" rel="noopener noreferrer nofollow">sued the SEC</a>, alleging unconstitutional overreach under Chairman Gary Gensler. This has raised speculation that Ripple may win its case against the SEC, further fueling optimism in the market. As a result, XRP’s price has surged by over 47% in the past week, with many expecting it to reach a new all-time high soon.
<h3 class="wp-block-heading" id="h-xrp-price-faces-mixed-signals">XRP Price Faces Mixed Signals</h3>
In the XRP/USDT 4-hour chart, the cryptocurrency shows a “golden cross,” as the short-term 50-day MA crosses above a long-term 200-day MA, often seen as a bullish indicator. Despite some bearish signals, this reversal in momentum is seen as a <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">positive sign for XRP</a>, with the price soaring over 50% in a month.
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However, XRP’s Chaikin Money Flow (CMF) at 0.24 signals moderate buying pressure, supporting its recent price surge. At the time of writing, XRP traded at $0.8102 with a market cap of $46.23 billion. Additionally, the daily trading volume of the altcoin climbed over 72% to $11.14 billion.&nbsp;
XRP is now expected to trade between $0.51 and $1 in the coming days. If its legal situation progresses favorably, it could climb even higher.
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XRP Hits 16-Month High After Legal Win and 23% Surge

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