Ripple Price Predicted To Skyrocket To The Highest Level

JAKARTA – Bitcoin (BTC) still leads the cryptocurrency standings at its highest price. The previous week, bitcoin increased 3.8 percent. The increase is still too small when compared to ripple (XRP).

Based on a report from Refinitiv, during the last week XRP experienced a high increase of up to 12 percent touching 1,352 U.S. dollars per coin. The positive trend continued to increase until this news was written on Tuesday 13 April. XRP is traded above 1.44 US dollars per piece.

Ripple has increased since the beginning of this year due to a statement from the judge handling the ripple case with the Security and Exchange Commission (SEC). In that case, the SEC filed a lawsuit against XRP developer Ripple Lab for selling Ripple without registering the cryptocurrency with the SEC.

As a result of the SEC's indictment against Ripple, a number of crypto exchanges temporarily suspended the sale and purchase of XRP. The SEC itself considers XRP a security. This requires Ripple Lab to register it first.

The judge handling the case considered XRP to be a cryptocurrency that had different criteria than ether and bitcoin.

"In my understanding, XRP has not only currency-like value, but also usability, and that usability is different from bitcoin or ethereum," said judge Sarah Netburn as quoted from CoinDesk.

After the statement, ripple prices soared 150 percent on Sunday. This increase is the highest increase experienced by XRP since December 2017.

Analysts view Ripple Labs as the one that will win the case, thus keeping XRP prices rising. A number of crypto butsa are also rumored to re-open ripple trading.

According to Factor LLC CEO Peter Brandt predicts that XRP prices will continue to skyrocket to their highest level. Brandt sees this positive trend from a technical analysis on the ripple weekly chart.

"The pattern indicates prices will skyrocket to record highs throughout the mass," Brandt wrote on his Twitter account Monday, April 12.

According to the Coin Market Cap report, ripple's highest price in January 2018. At that time the price of XRP touched 2.53 US dollars.