Today, the price of XRP surpassed the $0.56 mark, with market participants speculating that the U.S. Securities and Exchange Commission (SEC) missed the deadline for filing a Form C in Ripple's SEC lawsuit appeal, making the market sentiment optimistic. Against the backdrop of this continued rise, a well-known cryptocurrency market analyst expressed optimism about Ripple's native cryptocurrency XRP. The analyst predicted that XRP could reach $1.5 in the short term, further boosting market confidence.

XRP has been trading volatile recently against the backdrop of the tension in Ripple's SEC case. The U.S. Securities and Exchange Commission (SEC) filed an appeal earlier this month, which could extend the protracted battle. In response, Ripple also filed a cross-appeal, which boosted market sentiment and showed that the company is confident in this legal battle.

EGRAG CRYPTO, a well-known cryptocurrency analyst, predicts that the XRP price will rise sharply, with a target price of $1.4679. In a recent post, EGRAG shared a bullish cryptocurrency chart and predicted a strong rebound in the coming days. According to his analysis, driven by the increasing pressure, XRP is expected to break out in the next 15 to 30 days.

Meanwhile, EGRAG has identified a key resistance level between $0.61 and $0.62, which, if broken, could trigger a significant price increase. Notably, he said that the cryptocurrency is currently consolidating within an overlapping triangle pattern indicating tension between buyers and sellers.

Moreover, the analyst’s long-term predictions for the cryptocurrency have further fueled the optimism. He also said that in the long run, Ripple’s native cryptocurrency could reach the $7.5 mark, with a short-term target of $1.5. Will the price continue to rise amid the Ripple SEC case?

At the time of writing, XRP price is up nearly 4% today, trading at $0.5577, while its daily trading volume has surged 12% to $1.35 billion. The cryptocurrency touched a high of $0.5635 in the past 24 hours, indicating growing market confidence. Additionally, XRP futures open interest rose nearly 4% to $781.25 million, according to CoinGlass data.

However, despite EGRAG CRYPTO’s recent rally and optimistic forecasts, some investors remain wary.