As the highly anticipated Ripple v. SEC lawsuit continues to unfold, analysts are offering bullish XRP price predictions, with some forecasting targets ranging from $1.88 to $2.50 and even higher. The ongoing legal battle holds the potential to further impact the asset’s valuation, with expectations for a favorable outcome for Ripple.
In the last several days, XRP has experienced a 6% weekly price surge, currently trading around $0.53. This resurgence has captured the attention of analysts, with some envisioning fresh peaks in the near future. Mikybull Crypto observed XRP’s price trajectory and opined that “the bottom has been confirmed and is currently in preparation for an explosive move.” Captain Faibik set a midterm target of $2.50, while Dark Defender suggested that XRP has returned to a pattern that could fuel a price rally to as high as $1.88.
EGRAG CRYPTO presented a Structural, Sentiment, Macro, and Psychological (SSMP) model depicting the next 300 days, consisting of four essential stages. The first stage shows the potential for a substantial rally in the $0.53-$0.58 range, with the second phase reaching $0.63-$0.70 and the third ($0.75-$0.85) signaling the start of an actual bull run. According to EGRAG CRYPTO, “0.93-$1 is where emotions clash – fear, greed, anxiety, and overconfidence. A monthly close above this range could mean saying goodbye forever to prices below $1.”
Last month, EGRAG CRYPTO presented two potential paths for XRP’s price growth, with the first scenario depicting it trading in the $1.20-$1.80 range by June-July, while the second option hints at an ascent to an all-time high of $4 by September.
The potential outcome of the lengthy lawsuit between Ripple and the US Securities and Exchange Commission (SEC) is another major element that could positively impact XRP’s price in the short term. Ripple secured three partial wins last year, making the regulator seem like the underdog, according to some industry participants. XRP’s value spiked after each victory, with many expecting an even more significant surge in the event of a decisive triumph for Ripple.
Despite the start of the trial last month, it remains unclear when the case will be officially closed. However, American attorney Jeremy Hogan believes the legal spat could be resolved after a $100 million settlement before the end of the summer.
As the broader crypto community eagerly awaits the resolution of this high-profile case, the bullish XRP price predictions continue to mount, fueled by the asset’s recent resurgence and the potential implications of a favorable outcome for Ripple.
