"It's going crazy high, investors must be impatient to see the price of XRP go past $0.70."
The cryptocurrency Ripple (XRP) early this morning gave a surprise when its price managed to pass $0.68 where last Friday the digital asset was still trading between $0.59 and $0.61.
John Deaton, a pro-XRP lawyer recently shared his perspective on the lawsuit between XRP and the Securities and Exchange Commission (SEC) has viewed a settlement of $20 million or less would result in a legal victory in favor of the digital asset.
Not only that, Deaton also expressed his disapproval when there was a notion that the victory of the lawsuit for the SEC was 50-50.
This is because he thinks the probability for XRP to win is 90-10 following the broader regulatory landscape that surrounds the digital asset is very positive plus XRP is increasingly establishing cooperation with various parties.
The current rise in the price of XRP may also be driven by the second round decision in the case between the SEC and Govil which has dealt a major legal blow to the regulator creating a wave of confidence among XRP investors.
Recently, Judge Analisa Torres has approved an order regarding the request of the SEC and Ripple who want to propose a briefing schedule, therefore both parties should submit it by November 9, 2023 at the latest.
Looking at the price chart, XRP's strong resistance zone is at $0.68, so the price needs to break through that level to continue the rise up to $0.73 but if it fails then the asset can slip back to $0.60 or $0.58.
As of this writing, XRP price is up 9.55% at $0.68 in the last 24 hours with a market cap of $36 billion and has recorded a 22.89% climb over the past week.
