XRP’s fate seemed to be changing as the asset was leaving behind its bad days. While Ripple along with Brad Garlinghouse and Chris Larsen have been trying their best to fend off the allegations put forth by the Securities and Exchange Commission of the United States, the bulls were seen helping XRP in making progress with regard to its price change.
The altcoin was on a roll as it secured over 22% gains over the last 24-hours further pushing the price of XRP to a high of $1.73. However, at the time of writing, the asset was back at $1.69. Over the last seven days, altcoin made profits of over 70%. This number further pushed the altcoin to the top. During the course of the lawsuit, XRP had plummeted down in terms of ranking and market cap. However, the cryptocurrency made its way back into the top five as its market cap stood at a high of $76.46 billion.
XRP One-Day Price Chart On Binance
The long-term price chart of XRP was seen filled with strong bullish sentiment. The Parabolic SAR indicator formed dotted lines that remained below the candlesticks acting as a major line of support. This line further demented the chances of an instantaneous downtrend. The Chaikin Money Flow indicator was seen on a trek to the top of the bullish arena. With strong green closing bars, the Awesome Oscillator indicator made it clear that the bulls were in the altcoin’s market.
With all the aforementioned indicators suggesting a bullish market, the price of the altcoin was most likely to hit $2.
Those interested in XRP were inclined towards buying the asset as opposed to selling it as the Relative Strength Index as well as the Money Flow Index indicators pointed out that the altcoin being overbought. This strong buyers’ sentiment in the market of the altcoin also seemed to have aided the surge in its price.