XRP Price Doubles After Ripple's Legal Win: Can it Hit $1?
XRP's price doubled after winning a legal battle against the SEC.
The court ruling stated that XRP sales on crypto exchanges complied with U.S. securities laws.
After the legal victory, XRP surged, reaching $0.93 on July 14, its highest level since December 2021 and approaching the $1 mark.
Some indicators suggest that XRP's recent price pump may not be a mere short-term reaction to the legal victory.
From a technical perspective, XRP faces challenges in sustaining its rally and reaching $1.
If a pullback occurs, XRP's price could drop towards its multiyear ascending trendline support near $0.45 by September.
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.