XRP Price Doubles After Ripple's Legal Win: Can it Hit $1?

XRP's price doubled after winning a legal battle against the SEC.

[{"selector":"#anim-a374c0fe-9d0e-4700-a5e9-aa5226e7babe","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7124cf02-6b7e-4338-acfb-9274b66e9942 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.815504465375438%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

The court ruling stated that XRP sales on crypto exchanges complied with U.S. securities laws.

[{"selector":"#anim-4e43b1cf-b6f9-4710-937e-41679fa0a996 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.42187489333662%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-dd62281a-8930-43ba-aa16-286286a5b98a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-67e21f0c-f861-4e63-b2d3-bef82a5934c2","keyframes":{"transform":["translate3d(-119.12751%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

After the legal victory, XRP surged, reaching $0.93 on July 14, its highest level since December 2021 and approaching the $1 mark.

[{"selector":"#anim-d1058970-37e9-4b07-b1cd-866144e1b2a4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-82e544ff-03e8-4697-91c4-03ceace5bc65","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1dbeb9bb-b641-4857-a7d2-cc15be765aa2","keyframes":{"transform":["translate3d(116.02564%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Some indicators suggest that XRP's recent price pump may not be a mere short-term reaction to the legal victory.

[{"selector":"#anim-e451f888-ec14-450f-bc53-611c67b4279a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(44.816706773082196%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c1ac65e4-e12b-45d8-ac2b-10f4a468d591","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54b7faef-fd70-4c90-abe4-9361935d2c4d","keyframes":{"transform":["translate3d(0px, 140.90684%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

From a technical perspective, XRP faces challenges in sustaining its rally and reaching $1.

[{"selector":"#anim-2284f3be-f6be-4918-96a1-18b5c317e49b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(41.34615385372759%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-df7ad9cd-13a9-4101-83eb-0d44d170723d","keyframes":{"transform":["translate3d(126.96628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f41922ef-5c34-41e8-8179-4cdf58baa67b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-98f7b761-ea5c-4593-8606-1a4773b0487a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

If a pullback occurs, XRP's price could drop towards its multiyear ascending trendline support near $0.45 by September.

[{"selector":"#anim-acc0b05c-8f1f-4650-aa30-4d8c286c15d4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-2c2b0c5a-7be5-42c0-b1d0-cd7409b0c04d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a2b70576-d33f-452f-a19d-01531347fc4e","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The recent rally in XRP's price following Ripple's legal victory against the SEC has sparked optimism among investors and traders. However, the path to $1 and beyond is not without its challenges.

[{"selector":"#anim-bcc96ac1-957f-4f4d-851a-ae87ddbcf197","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] Learn more