Ripple (XRP) saw its biggest weekly gains of 2024 over the weekend as XRP holders marked the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP reached its highest point of $0.5661 on Saturday, 13 July.
The altcoin saw further gains of almost 3% on Monday, with a current trading price of $0.5333.
Here's a quick round-up of the day's market movers: Ripple whales have bought 300 million XRP in two days. Data from on-chain intelligence tracker Santiment shows that Ripple’s large wallet investors added 300 million XRP to their holdings between 12 and 15 July. The accumulation of the altcoin by whales is usually seen as a bullish sign for an asset, so it backs up the idea that XRP will keep rising. While one group of big investors holding between 10 million and 100 million XRP added 300 million, another group holding between 100,000 and 1 million added 10 million in the same period.
The XRP army and the traders holding the altcoin celebrated the one-year anniversary of Judge Analisa Torres’ ruling that XRP is not a security in its secondary market sales. XRP Army celebrates first anniversary of Judge Torres' ruling, XRP rallies 10%
Technical analysis: There's a chance XRP could gain another 13%.
On Monday, 15 July, XRP was trading at around $0.5330. XRP Ledger’s native token made a recovery from the losses seen on 26 May, holding above the key $0.50 psychological support level. The Moving Average Convergence Divergence (MACD) momentum indicator shows that the recent gains are supported by green histogram bars above the neutral line. This is a good sign that the underlying momentum in the XRP price trend is positive. XRP could gain another 13% and reach $0.6058, which is the 61.8% Fibonacci retracement of the decline from the March 11 top of $0.7440 and the July 5 low of $0.3823.
