XRP Price Poised for 75% Surge Following SEC Settlement with Ripple
XRP price has surged nearly 30% over the past two weeks, driven by a broader crypto market recovery and the conclusion of Ripple’s prolonged legal battle with the U.S. Securities and Exchange Commission (SEC).
Technical Analysis Signals Potential 75% Rally
XRP is currently forming a symmetrical triangle pattern, a bullish continuation setup typically signaling further price gains. Technical analysis suggests that if XRP breaks above the triangle’s upper trendline near $2.35, it could rally toward a target of approximately $4.35 by June, representing a 75% increase from current levels.
However, a breakdown below the triangle’s lower trendline could invalidate this bullish scenario, potentially pushing XRP down toward $1.28.
Positive Fundamentals Boost XRP Outlook
The bullish technical outlook aligns with recent positive developments:
- The SEC recently dropped its appeal against Ripple, significantly reducing regulatory uncertainty.
- Crypto exchange Bitnomial voluntarily dismissed its lawsuit against the SEC, paving the way for the launch of the first CFTC-regulated XRP futures in the U.S.
- Futures contracts are expected to enhance XRP market liquidity and trading activity.
Remaining Legal Challenges
Despite these positive developments, Ripple still faces an injunction issued by Judge Analisa Torres, restricting XRP sales directly to institutional investors. Crypto lawyer John Deaton noted that this injunction could limit Ripple’s ability to distribute XRP to banks and financial institutions in the U.S.
“If Ripple obviously wants to be able to issue XRP to banks in America directly, I think the hang-up is that injunction. How do you get past that injunction?” — John Deaton
Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
