Ripple’s native cryptocurrency XRP experienced a modest gain of 3.5% in the last 24 hours, reaching $0.63 levels. This increase was overshadowed by Bitcoin’s robust rally of 3.47% and the overall cryptocurrency market cap’s gain of 2.84%. However, XRP maintained its position above key moving averages, indicating positive price indicators.

Investors in XRP faced uncertainty as there were no new developments in the SEC v Ripple case. The SEC sought an interlocutory appeal, which was denied, and the case is expected to conclude in the summer of 2024. The SEC’s primary interest may lie in overturning the ruling on Programmatic Sales of XRP. This uncertainty may persist until a ruling on the appeal or a regulatory framework addresses the classification of cryptocurrencies.

Market analysts are bullish on XRP’s price action going into 2024. EGRAG outlines two bold objectives, with the initial breakout projected for January 2024, aiming to propel XRP to $6.4. Achieving this target would require a surge of 923% from its current valuation. EGRAG also presents a more daring goal of a breakout in July 2024, projecting a price of $22.3, implying an extraordinary increase of 3,466% from XRP’s present value.

Key factors influencing XRP’s trajectory include remarks from US lawmakers, developments involving the SEC, and news related to the SEC v Crypto case. The 14-day Relative Strength Index (RSI) reading suggests a potential decline toward the $0.5835 support level before entering oversold territory. A breakthrough above the resistance at $0.6354 could empower bullish momentum toward the $0.7047 resistance level.