"It is possible that the price of XRP will rise to that level, but you have to be careful."
The price of the cryptocurrency Ripple (XRP) which has managed to see a continuous climb lately may be about to see some positive developments in November 2023 which is just around the corner.
Since December 2020, a legal battle between XRP and the Securities and Exchange Commission (SEC) has been raging as the regulator claimed the digital asset violated securities laws, but Judge Analisa Torres ruled this year that XRP is not a security.
The SEC became more stressed when its appeal was rejected by Judge Torres, so they decided to drop the charges against Chief Executive Officer (CEO) Brad Garlinghouse and co-founder Chris Larsen last Thursday.
That streak, November 9, 2023 is an important date for investors to watch as regulators want to meet and negotiate with XRP, and this means it will result in a lawsuit settlement.
According to statistics from the United States (US) Court of Appeals from 2011 to 2015, the SEC had a 14.2% chance of winning an appeal, but XRP proponent Bill Morgan sees the regulator's success rate in that appeal as only 3%.
Taking into account the situation, XRP has the potential to jump higher in the coming month, where the price is currently recording an increase of 5.82% at the level of $0.55 in the last 24 hours with a market capitalization of $29 billion.
Through observation, XRP which has broken the resistance zone of $0.54 is expected to continue its rise up to $0.60, but if it fails then the price can fall back to test the support zone of $0.50 or $0.47.
