XRP Price Target Extends to $0.60, Driven by Hope of Double Profit

XRP broke through the major resistance levels today before falling back below $0.52. The pullback saw XRP pull back through the third major resistance level (R3) to end the day at $0.51816.

US economic indicators briefly tested support before the afternoon breakout. Investor sentiment towards the current SEC v Ripple issue remained positive.

Investor optimism mitigates impact of US jobs report

It was a quiet end of the week for Ripple, with no SEC v Ripple updates to give XRP direction. However, investor optimism for a positive outcome in this case continues to push XRP north.

Ripple’s Latest Files in Response to the Securities and Exchange Commission opposition Brief motions by girlfriends I-Remit and TapJets and the court’s overturning of the SEC’s objection to the court’s rejection of the SEC’s attempt to protect William Hinman’s speech-related documents under attorney-client privilege bolstered expectations of a Ripple victory.

In a famous speech in 2018, Corporate Finance Department William Henman said that Bitcoin (BTC) and Ethereum (ETH) are not securities.

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