Ripple’s XRP price is back under the radar of the crypto community despite its consolidated price action. This comes after the recent developments of XRP tokens in various aspects.
Notably, the Ripple vs. SEC lawsuit is expected to conclude on June 16 as the parties are now gearing up to file a new motion for injunctive ruling under Rule 60, lawyers say. It could hype up the XRP price toward a new high during the upcoming time.
Let us now understand how this could impact the XRP price in a positive way in the longer time frames.
Historically, XRP price had displayed over 860% rally during the bull run of 2021. However, the altcoin recorded a major pullback, resulting in it losing most of its value. After recording a stable action for a period of approximately 1337 days. As the market witnessed a major reversal, it displayed another rally of over 575%.
This raises a speculation about a similar price action for the XRP price in the upcoming time. Further, this has led in the investors and whales realistically considering the price target of $15.
The Simple Moving Average (SMA) acts as a major support to the XRP price chart in the daily time frame. This type of trend highlights a strong bullish sentiment in the market, suggesting a sustained positive action in the upcoming months.
The Relative Strength Index (RSI) displays a strong support around the neutral point and is currently valued at 52.53. A successful retest could result in it rising toward its oversold range. This hints at an increasing positive influence in the longer time frame.
How High Can XRP Realistically Go?
While the immediate retest zone still stays strong around the $3 mark, the upper price target for this altcoin is $3.50. However, considering the historic market sentiments, the value could potentially record a 500% rally as it has recorded such giant rallies twice since its inception. This could lead the value of XRP price toward the $15 mark over a course of 4 to 7 years.
On the contrary, this altcoin displays a strong support around the $2 mark, making it the extreme low level for future price action.
Also Read: US Declares Ripple’s XRP will Replace the Dollar: Fact Check