The price of XRP has increased after the recent decline, attracting the attention of the cryptocurrency community. XRP is up 26%, reaching $0.566, its highest point since April 12. However, with a slight decrease afterwards, the price dropped to $0.53. So what should investors expect after this stage?

The Latest Increase in XRP Price Made People Smile

Over the weekend, the price of XRP increased significantly, exceeding $0.56 at its peak. This increase came as a surprise to many in the crypto community. The increase in XRP's price is supported by increased activity on its network. Transaction transfers increased to 1.47 million and the total number of transactions increased to 2.55 million.

These figures show that interest and usage of XRP is increasing and contributing to the price increase. This renewed activity is a positive sign for the cryptocurrency, showing that current price movements are supported by significant market interest.

The legal battle between Ripple and the SEC has been going on for about four years. A pivotal decision by Judge Torres on July 13, 2023 emphasized that XRP is not a security, marking a major milestone for Ripple and the cryptocurrency space.

This decision significantly affected the market's perception of XRP, increasing investors' confidence. While the final decision is still pending, there are speculations that it could come later this month and further impact the price of XRP.

XRP Price Prediction

Currently, XRP is trading at $0.53. The price could either undergo a slight correction or it could continue to rise and potentially test the $0.6 level. If it breaks this resistance, the bull run may continue and a possible target of $0.7 may be encountered later in the month.

Since the RSI index is located at 63, this shows that XRP still has room for price increase. However, significant resistance near $0.57 could challenge further gains.

It would not be correct to interpret the recent increase in XRP's price as a purely speculative move, as it is due to reasons such as increased network activity and positive market sentiment. As the ongoing legal battle between Ripple and the SEC remains an important factor influencing XRP's price movements, a positive decision could push the price higher.