$XRP is far from reaching its all-time high in spite of the positive court ruling
The assertion is based on a pattern known as a"double bottom," an indication often used by traders to signal a potential upward trend following a period of decline.
The analyst also noted the formation of an ascending triangle, another bullish indicator. CoinsKid concluded with a general principle of trading:"Compression leads to expansion," suggesting that the constrained trading range will eventually lead to a price breakout. XRP's performance has been relatively stable, trading at around $0.72 at the time of writing, a 2.4% increase in value.The recent rally comes in the wake of a positive ruling in the Ripple v. SEC case that has bolstered confidence in the token's future. It also adds to the larger narrative of an increasingly active altcoin market, potentially challenging Bitcoin's long-held dominance in the cryptocurrency space.
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