# Ripple to Celestial Heights? Ripple Victorious in Legal Battle, Bollinger Bands Forecast Unprecedented Peak Surge
Canary Capital Requests ETF, PENGU Value Increases
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Yesterday, March 19th, will certainly be commemorated as a crucial juncture for the virtual currency sphere, as the SEC formally declared its withdrawal of its appeal against Ripple.
Ripple, a firm engaged in international distributed ledger technology commercial resolutions and employing the XRP virtual currency in its offerings, witnessed its inherent token escalate 11% in mere moments following the declaration.
XRP has garnered considerable interest for several months, and this recent revelation merely amplifies the excitement encircling the virtual currency. Since November, XRP’s valuation has escalated, propelled by speculations of its inclusion in a U.S. virtual asset reserve and the prospect of an XRP Exchange Traded Fund.
XRP’s unsurpassed peak presently resides at $3.40, established in January. Nevertheless, according to the Bollinger Bands, this valuation milestone may soon be surpassed.
The extensively used gauge conceived by John Bollinger, showcasing a 20-day shifting average and dual deviations, portrays a distinct prospect for XRP to excel in the forthcoming weeks, with an unsurpassed peak as the definitive objective.
Okay, so here’s the situation: XRP is currently experiencing a struggle, assessing the equilibrium between those vending and acquiring at the higher barrier mark. We are referring to a prospective ascent to approximately $3.489, which is a decent 2.59% surge from its present value.
Observing the weekly diagram, XRP appears to have discovered a secure backing region near the central strip. It has been examining this zone for the preceding couple of weeks, and it seems to be remaining stable.
