Ripple Breaking News: XRP Is About To Rally and Outperform Bitcoin

It seems that Ripple is looking ahead to some pretty optimistic days. Check out the latest reports about he price of XRP.

According to a well-known cryptocurrency trader, XRP is expected to experience a bullish trend and surpass Bitcoin (BTC) in performance, making it the sixth-largest digital asset.

An analyst, known as Kaleo, who prefers to remain anonymous, has said that he foresees a bullish trend for XRP.

He noted that the cryptocurrency managed to successfully test its diagonal resistance, which has now become its support.

“XRP/USD low timeframe looks ready for another leg up as well.”

Kaleo suggests that XRP may be mirroring the recent surge of Tron (TRX), which rose from $0.74 to $0.85.

“For reference here’s what TRX just did. A similar squeeze could send XRP to $0.60+.”

As of now, XRP is being traded at a rate of $0.52. Kaleo suggests that the XRP/BTC ratio is also showing signs of a potential surge, as it has broken above its diagonal resistance.

“XRP/BTC pair looks primed for a squeeze as well.”

According to Brad Garlinghouse, CEO of Ripple Labs, the ongoing court case with the U.S. Securities and Exchange Commission (SEC) is expected to be resolved soon.

The SEC filed a lawsuit against Ripple in December 2020, accusing them of selling XRP without proper registration as a security.

Ripple CEO refers to a speech by Finance William Hinman where he declared Ethereum (ETH) as a non-security and expects a court decision soon, within weeks rather than months.

“In terms of where things stand today – I’ll try to not get too much into the legal weeds – you are right that I feel very confident that we’ll see a decision from the courts this year. In fact, I think I would guess that it will be in weeks, not months. There were some decisions that happened last week that you may have read about.”