XRP Gains 53% in 2 Weeks, Ripple Spends $150 Million On Lawyers

XRP is trending higher, outperforming Bitcoin, Ethereum, and top altcoins. As the coin floats higher, cementing its position in the top 10. Though it needs more than double its market cap to break into the top 5, yesterday’s gains were massive for the coin. In the sessions to come, traders can look at riding the current trend, targeting $0.66 in the short term. Looking at the daily chart, this will be the case as long as prices are above the multi-week support at $0.55.

Technically, XRP is bullish, as shown by its performance in the last day and week. The coin is up 2% in 24 hours and 11% in the previous week amid an upswing in trading volume to over $2 billion. As prices rally, more traders will likely continue pouring in, funneling even more millions.

The following XRP and Ripple news are trending:

• As the crypto community waits for the multi-year case to settle, it is emerging that Ripple has spent over $150 million. The company has continued to pay top draw battery of lawyers to take on the United States SEC.
• Brad Garlinghouse, the Ripple CEO, has also hinted that the case is coming to a close following a private meeting with the regulator on July 25. Ripple lawyers continue to maintain that XRP is a commodity, like Bitcoin.

XRP Price Analysis

XRP/USD is up 53% in the past two weeks.

As bulls press on, traders can look to ride the trend, loading on dips as long as prices trend above $0.55.

This means the coin is within a bullish breakout formation, following gains above $0.55 on July 24.

The first target would be $0.66 and later $0.74, with the upside momentum expected to be accelerated once last week’s highs are cleared.