In what is a massive increase, Ripple has surged as much as 11% Tuesday, as XRP looks to explode past the $0.6 level. Currently, the token is trading at $0.58, and up nearly 10% in the last 24 hours, according to CoinMarketCap. This is being complimented by a 94% surge in trading volume.
Ripple’s market cap has also increased by almost 10% Tuesday. The value is currently above $32 billion, and firmly entrenched as the 7th highest in the crypto market. Now, all eyes are on where the rally could take the token, especially as its years-long court battle with the US Securities and Exchange Commission (SEC) could end this week.
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XRP Poised to Surge Above $0.6 as SEC Suit Nears an End
At the start of the week, Ripple celebrated a monumental anniversary. Indeed, the company’s CEO, Brad Garlinghouse, commemorated the landmark court ruling that took place a year ago. Then, XRP had its classification clarified as a non-security in a massively important judgment.
As that lawsuit nears a conclusion, traders are responding with bullish optimism. Ripple has surged as much as 11% Tuesday, with XRP eyeing a rally beyond the $0.6 level. Crypto analysts have taken to X (formerly Twitter) to predict what could be a gargantuan rally in the works for the token.
Also Read: Ripple: Algorithm Predicts XRP To Reach $6: Here’s the Timeline
Digital asset analyst Crypto Michael predicted XRP to enjoy “one of the biggest pumps of the year.” He is also speaking from experience, the post states. Specifically, the analyst noted that the coin made him a millionaire in 2021. The prediction is rooted in historical patterns from that time period.
Alternatively, analyst Mikybull Crypto expressed similar expectations. However, he saw a parallel between XRP’s current level, and the increase it experienced back in 2017. Moreover, he noted that “something big is brewing,” regarding the asset. It looks like whatever is coming could be game-changing for Ripple and crypto.
