On July 13, the court ruled in favor of Ripple in the XRP-SEC case and XRP experienced a huge rally.
XRP, which rose to $0.93 in this rally, then dropped to $0.42.
As speculation increased that Spot ETF applications would be approved, Bitcoin (BTC) rose above $35,000, while XRP rose to $0.58.
While XRP investors are waiting for a strong rise again, SBI VC Trade, a crypto company affiliated with the Japanese financial giant and Ripple partner SBI Group, predicted that XRP will rise to $ 0.62 in its latest report.
In the report published today, SBI VC Trade, which has examined the price movements of XRP since July 13, shared a gradual rise chart for XRP.
“As international remittance services using XRP expand, XRP will become widely accepted by retail investors in the future, making it more popular than ever.
If stable liquidity is achieved, the XRP price is likely to increase as it stabilizes.
At this point, we think that the XRP price will first rise to $0.5645, corresponding to the 100-day moving average.
Our next upside target for XRP is $0.6297, which coincides with a reversal of the 38.2% decline from the July 13 high of 0.9359 to the August 18 low of 0.4405. “
The $0.6297 forecast predicts that XRP could rise approximately 13% from its current level.
At the time of writing, XRP continues to trade at $ 0.553.
*This is not investment advice.