The XRP price has risen by 3.5% in the past 24 hours, with its climb to $0.463353 representing an 8% gain in the last seven days.
Its current price means it has dropped by 11% in a month but increased by 36% since the beginning of the year, with this appreciation coming as the market awaits the conclusion of Ripple's case with the SEC.
It also comes just as Ripple CEO Brad Garlinghouse has suggested in an interview that cryptocurrency firms may leave the US, which in his view currently suffers from a "confusing" regulatory regime.
This may suggest that Ripple itself could be planning to leave America in the wake of its fight with the SEC, but with the cryptocurrency firm also acquiring custody provider Metaco this week, this doesn't necessarily mean it's expecting to lose.
XRP Price Prediction as Ripple CEO Says Crypto Firms May Leave US Amid Confusing Rules – Here's the Latest
There's no doubt that XRP is one of the strongest major cryptocurrencies in the market right now, with its indicators showing good momentum.
Its 30-day moving average (yellow) continues to climb pretty steeply above its 200-day average (blue), signaling strong buying pressure that could continue for several days, if not weeks.
Similarly, its relative strength index (purple) has remained consistently above 50 since the middle of the week, and is rising again now after a brief dip.
Perhaps the most encouraging sign is that XRP's support level (green) has been consolidating around increasingly high levels over the past few days, suggesting that the altcoin's gains aren't going to be reversed anytime soon.
XRP's strength this week is the product of a couple of factors, with the first being that Judge Analisa Torres -- who presides over the Ripple-SEC case -- denied the regulator's motion to block access to important documents related to William Hinman's 2018 'Ethereum-is-not-a-security' speech.