XRP’s price has seen a massive surge, surging above $0.80, with trading activity up an impressive 77% over the past seven days. The surge was largely sparked by Ripple’s partial victory against the U.S. Securities and Exchange Commission.

In the court ruling, the judge acknowledged that Ripple’s institutional sales could be considered securities. However, it is worth noting that not all other sales were similarly classified. The ruling is widely seen as a major victory for Ripple Labs and its digital tokens.

Currently, XRP is approaching the key resistance level of $0.85, which indicates strong buying pressure in the market. This optimistic trend bodes well for Ripple’s medium-term prospects, suggesting that the digital token is in a favorable period.

XRP price surges and market cap inflows after Ripple vs. SEC

Data from cryptocurrency market tracker CoinMarketCap shows XRP trading at $0.8368, up an impressive 5% in the past 24 hours. Over the past seven days, the cryptocurrency has experienced a massive surge of just over 77%.

This significant growth coincided with an inflow of over $16 billion into XRP’s market cap. Notably, the market cap has risen from $25 billion on July 12 to $44 billion currently, with a large portion of that growth occurring shortly after the outcome of the Ripple-SEC court case.

Despite the sharp price increase, XRP is still facing a strong resistance zone at $0.85. This area is characterized by high selling pressure and increased supply, making it challenging for the digital currency to break through this level.

Nonetheless, the market sentiment among traders remains bullish, which increases the possibility of XRP breaking out of the resistance area.

XRP breaks the $1 threshold?

When analyzing price movements, it is important to exercise caution and consider historical patterns. Typically, crypto assets tend to go through a consolidation or correction phase after a significant uptrend, and XRP is no exception.

Therefore, the price may enter a short-term correction phase, accompanied by periods of higher volatility and pullbacks, before the next significant rise.

Considering the bullish momentum driven by the positive outcome of the SEC lawsuit, XRP has a chance to surpass the much-anticipated $1 price threshold.

The favorable court ruling and the subsequent surge in price and market cap have greatly boosted investor and trader confidence. If this momentum continues, it could lead to further gains for XRP in the coming days and weeks.