XRP has experienced significant growth over the past 24 hours, coinciding with the anniversary of the landmark ruling by Judge Analisa Torres. According to CoinMarketCap, XRP's price surged by 10.99%, reaching $0.5145.
XRP Metrics Show Positive Trends
XRP often shows strong performance during market downturns, especially when discussions arise about its security status. On July 13, 2023, Judge Torres ruled that XRP is not an investment contract when traded on secondary platforms, reinforcing its non-security status alongside Bitcoin.
Following this ruling, XRP hit a 52-week high of $0.8468, experiencing a 70% increase. Recently, the coin has been fluctuating below this high, but renewed optimism from CEO Brad Garlinghouse and CLO Stuart Alderoty has sparked positive sentiment. Over the past seven days, XRP has risen more than 20%, driven by whale activities, with trading volume increasing by 46.28% to $1,986,482,258.
Anticipating XRP to Hit $1
There is growing anticipation that XRP could surpass $0.8 and even reach the $1 mark. This optimism is partly fueled by the ongoing lawsuit, which is nearing its resolution phase. The SEC is seeking a $2 billion fine, while Ripple Labs is offering $10 million. The final judgment could be the catalyst for XRP to retest the $1 level.
