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XRP (XRP) has risen by an impressive 60% in the first quarter of 2023, helped by rising speculation over Ripple’s legal win versus the U.S. Securities and Exchange Commission (SEC) and broader bullish sentiment in the cryptocurrency market.

The pair now eyes more gains in the second quarter, primarily due to a classic bullish continuation pattern.

XRP/USD daily price chart. Source: TradingView
XRP supply distribution among whales. Source: Santiment
XRP/USD and daily correlation coefficient. Source: TradingView