Xrp moved to a multi-month high on Jan. 23, as market optimism grew regarding a lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). Following comments last week from Ripple CEO Brad Garlinghouse, many have bought the token in anticipation of the lawsuit ending in the coming months. Dogecoin was another notable gainer on Monday.
XRP
XRP, formerly ripple, was one of Monday’s notable gainers, as the token rose to a three-month high in today’s session.
XRP/USD hit an intraday high of $0.431 to start the week, coming off the back of Sunday’s low at $0.3979.
As a result of today’s surge in price, XRP has risen to its strongest point since November 8.
Looking at the chart, the move took place following a breakout of a ceiling at the $0.410 resistance level.
As of writing, XRP is still trading above this point, however earlier gains have eased, with price now at $0.420.
Momentum has eased, with traders seemingly securing gains as the 14-day relative s
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