Huge Surge in Trading Volume
The XRP price rally gained much bullish trend since the past couple of days with a huge positive market sentiment towards Ripple. As the SEC had to face rejection yet again for the second consecutive time. The judge, Netburn, denied SEC’s request to access the personal financial records of Ripple CEO Brad Garlinghouse and Chris Larsen.
With the rounds, the XRP price gained immense bullish momentum to rally high to the current levels. However, the rally is expected to continue to smash higher levels in the weekend. As the trading volume appears to be insane with a huge liquidity influx according to Coinmarketcap that shows a 173584.39% jump to hit $19,730,933,354,676 more than that of Bitcoin.
Therefore with the extended bull rally one can expect pretty good days incoming for Ripple as well as XRP price in this year. As listed by an analyst, Research 24/7, the year 2021 is filled with huge positive developments.
XRP Price Analysis
The price of XRP kept surging immensely since the beginning of the current month gaining nearly 100% price growth. The price successfully sustained the dips that drained miserably, yet recovered in no time.
With the positive inputs from the Ripple-SEC lawsuit, the XRP price is gets the benefit and rally hard. Currently, the price is on a 12% move towards the North after a magnificent 90% growth in the past seven days.
At the time of writing, the XRP price is $1.16 with a huge jump of 13.41%. Currently it’s important for the price to keep up within the pivotal zones above $1 and head towards the resistance levels above $1.23. No doubt the price may face a slight pull back, yet sustaining above the support levels at $1 is mandatory.
However, the Ripple-SEC lawsuit is expected to get resolved very soon and hence the XRP price may also jump accordingly.