Ripple to Break Records? This One Trigger Could Send XRP Skyrocketing
TL;DR
XRP is gaining renewed attention, with some analysts predicting a rise to as high as $5.85 if momentum builds.
The SECs dropped appeal might be priced in, but upcoming potential events like a spot ETF approval or IPO filing could reignite bullish sentiment.
A Big Week Awaits
Ripples XRP jumped last week due to the major development in the lawsuit between the company and the US Securities and Exchange Commission (SEC). As CryptoPotato reported, the agency dropped its appeal against the firm, pushing the tokens price to as high as $2.60.
Since then, XRP has lost some steam and currently trades at around $2.45. According to many market observers, though, investors should be patient since another major rally might be just around the corner.
The X user CRYPTOWZRD expects a big week for the token. They also envisioned a spike to a new all-time high (ATH) should XRP surpass the $2.80 resistance zone.
Dark Defender chipped in, too, claiming that XRP looks excellent at its current level. They projected a rise to $2.75 with a little hassle on $2.55 and an eventual explosion to $5.85.
Last week, the analyst assumed that the latest Ripple v. SEC front development has cleared the skies for a rally to a new all-time high for XRP.
We knew the news would follow. Some believed some did not. It doesnt matter, in the end. Roads are Clear, Skies are Blue, they stated.
Waiting for This Announcement
Some industry participants think XRPs valuation could chart additional gains once the US SEC officially discloses its decision to drop the appeal against Ripple.
It is important to note that others believe the lawsuit will not trigger price volatility for XRP, suggesting it is already priced in.
Now that the case is no longer an obstacle for the price, the next factors that may fuel a rally include the potential approval of a spot XRP ETF in the US and Ripples possible filing for an IPO.
Recall that the companies willing to introduce such an investment vehicle are Grayscale, 21Shares, Bitwise, and others. The SEC acknowledged some of the applications, and according to Polymarket, the approval odds before the end of 2025 currently stand at 83%.
The post Ripple to Break Records? This One Trigger Could Send XRP Skyrocketing appeared first on CryptoPotato.
Read more: https://cryptopotato.com/ripple-to-break-records-this-one-trigger-could-send-xrp-skyrocketing/
Text source: CryptoPotato
