XRP Price Prediction: BR ETF Legal Push Reignites Long Term Rally
Positive technical indicators, shifting regulatory conditions, and better spot XRP ETF prospects are some of the reasons behind Ripple's...
Quick overview
- XRP has broken its pattern of lower highs, indicating a potential bullish trend with a recent surge from $2.10 to $2.33.
- Ripple Labs has settled with the SEC, reducing its fine and improving the regulatory outlook for XRP.
- Analysts predict significant upward potential for XRP, with targets of $5.85 and $8.76, contingent on breaking key resistance levels.
- The cryptocurrency market sentiment is bolstered by Bitcoin's recovery above $100,000, suggesting a broader resurgence.
Live XRP/USD Chart
Positive technical indicators, shifting regulatory conditions, and better spot XRP ETF prospects are some of the reasons behind Ripple’s recent increase.
XRP Breaks Resistance: Bullish Momentum Builds
XRP has convincingly ended its streak of lower highs, indicating a possible transition into a sustained bullish phase. The digital asset climbed sharply from $2.10 to $2.33, breaking through the 100-day Simple Moving Average (SMA)—a level that had served as a consistent cap since March. This upward move reflects growing buyer interest and opens the door for further upside potential in the near term.
Adding to the broader crypto rally, Bitcoin’s resurgence above the $100,000 threshold has improved investor confidence across the digital asset space, lifting sentiment in altcoins like XRP.
XRP/USD Daily Chart – 100-Day SMA Clears the Path
Regulatory Clarity: Ripple Resolves Longstanding SEC Dispute
Ripple Labs has finalized a settlement agreement with the U.S. Securities and Exchange Commission (SEC), consenting to a significantly reduced penalty of $50 million, down from an earlier proposed fine of $125 million. This resolution marks the end of a multi-year legal battle centered on whether XRP constituted an unregistered security.
In a further win for Ripple, the SEC has withdrawn its appeal of a ruling stating that XRP sold on public exchanges does not meet the criteria of a security. However, Ripple has also agreed not to pursue its own appeal regarding the court’s finding that $728 million in XRP sales to institutional clients should fall under securities regulations.
Together, these outcomes point to a more constructive regulatory backdrop for Ripple and XRP, potentially clearing a path for new developments—including the possible launch of an XRP-focused exchange-traded fund (ETF) in the future.
Market Forecast: XRP Positioned for Higher Levels
Market analysts remain upbeat about XRP’s prospects. From a technical perspective, the asset appears to be exiting a prolonged consolidation phase. With momentum shifting, targets of $5.85—a 129% gain from current prices—are back in focus, with some projections extending as high as $8.76, nearly tripling XRP’s previous record peak of $3.40.
XRP/USD Weekly Chart – Supported by the 20-Week SMA
Support levels are identified at $1.88 and $2.33, while resistance is anticipated at $2.66 and $3.12. A successful breach of these resistance levels could signal the continuation of the bullish trend.
Conclusion
With the resolution of regulatory challenges and positive technical indicators, XRP appears poised for continued growth. Investors and market participants will be closely watching for further developments, including potential ETF approvals and sustained bullish momentum.
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