The price of Ripple Labs’s native XRP token rose significantly following the company’s victory over the US Securities and Exchange Commission (SEC). It is possible that the XRP price will move beyond the 95% rise it has seen since the court win to end November at $2.40.
The recent ascent of Ripple (XRP) can be attributed to two primary factors: a general market recovery and a noteworthy legal victory against the SEC. Investor sentiment has grown increasingly positive since a US judge partially dismissed the SEC’s lawsuit that XRP was a security.
Ripple Goes to The Moon?
Crypto expert Tony “The Bull” revealed in a post on X (formerly Twitter) a bullish technical pattern last seen in 2017. Should this pattern reoccur, markets could see XRP increase by 900% to beyond its all-time high of $3.40.
XRP Japanese Candle | Source: Tony “The Bull”
Read more: A Guide to Bullish Candlestick Patterns in Technical Analysis
XRP Performance in November
At press time, the price of XRP was $0.633 and had declined 4.7% in the previous 24 hours. So far, the asset has not performed as well as its competitors in November. But, many investors continue to trust the future of the project.
XRP: Everything You Need to Know About Ripple Labs’ Currency. Source: YouTube
Tony “The Bull” is also optimistic, and believes that XRP could increase to $2.40 by the end of November. He considers this price a considerable milestone for the asset.
Read more: How To Buy XRP and Everything You Need To Know
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