Ripple Breaks The Chain: XRP Price Reaches Critical Zone, Is It Near $1?

#XRP, one of the most popular cryptocurrencies, bounced from $0.72 to reach the $0.80 threshold.

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The fifth-largest cryptocurrency, XRP, has broken its long-held chains. The popular cryptocurrency, which broke the critical resistance point of $ 0.77, climbed to $ 0.794 with an increase of 8.56%. The general trend of the cryptocurrency market has also contributed to the upward journey of XRP.

⚡XRP Charts⚡
One of the most popular cryptocurrencies, XRP , bounced from $0.72 to reach the $0.80 threshold. XRP could find itself in a 20% rally if it makes a decisive close above $0.79. In this context, XRP price may revisit the $1 levels.

The popular altcoin had a tumultuous year, dropping to a 3-year low as the SEC, accusing XRP of being a security, sued Ripple. However, XRP, which climbed up to $ 1.96 with the leading crypto money touching $ 64,863 in May and the magnificent rally of the crypto money market, made significant gains in the recovery phase.

According to the daily chart data of XRP, the RSI is close to the overbought zone with 67 and continues its upward trend. However, the MACD is confirming the bullish trend and the Momentum indicator is pointing to the bullish bias.

⚡Proceedings of the SEC Litigation⚡
Ripple has managed to gain approval for the testimony of former SEC Chairman William Hinman. Ripple wants to prove that Hinman has managed to decentralize Ethereum as well as qualifying it as non-illegal despite having an ICO, and based on these, XRP is not included in this category. The SEC objected to Ripple's statement, claiming that its former executive's comments could not be the basis for determining the situation.

Also, Ripple has filed a lawsuit against its founder Brad Garlinghouse for a dismissal of personal accusations based on the fact that the majority of XRP sales are made outside of the US. The SEC accuses Ripple executives of violating section 5 of the 1933 Securities Act. However, the documents can invalidate SEC claims. The outcome of the lawsuit has the potential to drastically change the fate of the XRP price. On the other hand, the Ripple side has a clear advantage in the issues discussed so far.