XRP set for $3.9 on Ripple’s Final SEC Settlement
Several XRP traders have demanded a steep ascent to recover above $3.9.
Quick overview
- XRP traders are pushing for a price recovery above $3.9, with the asset currently trading at $2.32, reflecting a recent increase.
- Bullish sentiment is growing in the crypto market, driven by expectations of institutional demand and a potential upward price target for XRP.
- Ripple is nearing a settlement with the SEC, proposing to pay $50 million of the initially suggested $125 million, which could positively impact XRP's future.
- The emergence of an inverse head-and-shoulders pattern suggests a possible price increase for XRP, with targets between $2.70 and $2.90.
Live XRP/USD Chart
Several XRP traders have demanded a steep ascent to recover above $3.9. As of this writing, the asset is trading at $2.32, up 3 percentage points in the last 23 hours and 9 percentage points last week.
Bullish calls have been favorable in the crypto market.
The asset will reach multi-year highs following the Securities and Exchange Commission (SEC) lawsuit. An inverse head-and-shoulders pattern appears to be emerging for XRP, with a possible upward target of $2.70 to $2.9. The main driver anticipated to support this bullish trajectory is institutional demand for XRP.
Spot Bitcoin ETFs saw almost $40 billion last year, which caused the price to reach several all-time highs. Following significant investments over the past few months, XRP and Solana ETFs rank highly as investors shift their focus to altcoin products.
Ripple has nearly concluded its lengthy battle with the SEC, the same US Securities and Exchange Commission that has been going after the company since 2020 for allegedly unlawfully selling XRP tokens as securities for several years. The token’s price has been under strain, and its future is uncertain.
Today, however, things have drastically changed. The SEC and Ripple have jointly petitioned the court to authorize a partial settlement. It claims that of the $125 million that was initially suggested, Ripple only agrees to pay $50 million. They receive the remaining 75 million, so one is essentially over.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals