This makes it the second best-performing in the top 100 . Neo , Tron , and Sui have also recorded impressive gains over the past 24 hours. , XRP formed the golden cross pattern, meaning that the token's short-term moving average has now crossed a long-term one. This bullish pattern shows that the cryptocurrency is experiencing strong bullish momentum. However, it is worth mentioning that it tends to be a lagging indicator. was issued in the closely watched SEC v. Ripple case.
Some analysts, however, correctly predicted that this rally would be short-lasting. By Aug. 11, the XRP price retraced back to the $0.54 level, losing as much as 15%. So far, XRP is up 41% after bottoming out on Aug. 5 at $0.43 on the Binance exchange during the all-out crypto crash. As reported by U.Today, Stuart Alderoty, Ripple's top lawyer, recently clarified that XRP's legal status would not be under threat even if the SEC were to appeal the case. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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