The XRP price is rallying after the announcement of landmark legal victory with the U.S. Securities and Exchange Commission (SEC). Traders have begun to speculate whether the token could breach the $5 threshold before the day’s end.
The surge follows the SEC decision to drop its long-running lawsuit against Ripple Labs. The SEC vs Ripple XRP case has been clouding the crypto industry since December 2020.
Since the announcement earlier today, XRP has seen a dramatic rally, trading at approximately $2.56, marking a 15% jump from $2.32 just an hour, according to live market data.
Market sentiment remains bullish, with many traders speculating that XRP could reach $5 before the close of the trading day.
A further 20% increase is required to push XRP past the $5 mark, but key resistance levels around $4.50 may pose a challenge.
However, Pro XRP supporters are already ready to push the price as some enthusiasts like EGRAG crypto and ALI Martinez have predicted the price to reach $10 and even to $15.
As the trading day progresses, the crypto community remains on edge, watching whether XRP can sustain its bullish momentum or if resistance levels will curb its ascent. The final hours of the day may determine whether the token achieves this long-anticipated milestone.
Also Read: XRP price surges 14% as SEC drops Ripple lawsuit after 4 years
