Since its debut, XRP has experienced enormous growth, and 2018 was the best year for Ripple (XRP), as the price of XRP reached an all-time high of $3.84 and investors saw a roughly 1000% return on their investment In 2022, however, XRP’s performance tanked due to market crash and volatility.
As traders continue to have great faith in Ripple’s likely legal victory over the United States Securities and Exchange Commission (SEC), XRP has seen significant gains over the past month. With the company’s CEO, Brad Garlinghouse, speculating that the entire XRP vs SEC could be resolved in the first half of 2023, recent victories of Ripple’s legal team in this litigation may have contributed to the coin’s price increase as it is currently marching towards $0.50.
However, the XRP price is still far behind its $3.84 all-time high from 2018, providing plenty of room for the token to gain strength in the coming months and perhaps even surpass the $1 mark.
XRP Price Action
Since late September, XRP has been trending within the same technical pattern. However, the altcoin failed to break over the pennant. It now anticipates another breakthrough occurring soon.
XRP has its strongest support zone around $0.43, while its strongest resistance level appears to be around $0.50. A more likely scenario is that the positive attitude will keep the token moving upward and enable it to overcome the $0.50 obstacle. It would be reasonable to predict that in this scenario, the increasing buying pressure would result in additional bullish increases, maybe reaching $1 and beyond.
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