TL;DR

XRP rose 10% in a week, fueled by Grayscales new Ripple trust and a potential Robinhood re-listing. While some see a bullish trend, others predicted the token could perish soon.

XRPs Next Potential Move

Ripples XRP has registered a 10% price increase in the past week, making it the best-performing cryptocurrency from the top 20 list. It currently hovers at around $0.58 (per CoinGeckos data), while its daily trading volume (approximately $1.2 billion) exceeded the one of the higher-ranked Binance Coin (BNB).

XRP Price, Source: CoinGecko The main factor fueling XRPs rally as of late is Grayscales decision to introduce a dedicated Ripple trust. The investment vehicle enables users to have direct exposure to the cryptocurrency without the need to purchase and store it.

Another factor could be the increased rumors that Robinhood has re-listed the asset on its platform. In fact, the firms official website shows that XRP is indeed among the supported tokens. 

One of the XRP bulls is the popular crypto enthusiast Ben Armstrong, better known as BitBoy.

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Many others remain optimistic that XRP could be on the verge of a bull run. X user Cryptoinsightuk predicted a 14% surge to $0.66 in the short term, claiming liquidity has been building up.

Mikybull Crypto chipped in, too. In their view, XRPs price pattern has formed a specific triangular shape, which might be followed by an exponential rise in the near future. Its one of the most bullish macro charts out there, the trader argued.

CrediBULL Crypto outlined a similar thesis, maintaining that the near 7-year compression will be coming to an end soon. The analyst labeled the development as the mother of all bull flags, forecasting a legendary rally.

Waiting for Developments on the Ripple v. SEC Lawsuit

Another major factor that could trigger additional volatility for XRP is the next step in the legal battle between Ripple and the US Securities and Exchange Commission.

The case reached an important milestone last month when Judge Torres ordered the company to pay $125 million for violating certain securities laws. While the sum sounds substantial, it actually represents just a fraction of the regulators initial request for billions.

Both parties have until early October to appeal, and it will be interesting to see whether such a movement will cause significant ups and downs for XRPs price. Ripple has already agreed with the courts terms, meaning the ball is in the SECs court.