- XRP surged due to market optimism fueled by Ripple’s legal battle with the SEC, with analysts speculating that a settlement could pave the way for ETFs and future growth.
- Despite recent price corrections, analysts maintain a long-term bullish outlook for XRP, with predictions targeting $8 to $13, driven by continued momentum and the potential for legal developments.
President-elect Trump’s rumored plans to appoint Brian Brooks, a crypto advocate, to a pivotal role, alongside lawsuits challenging the SEC, have fueled market optimism. Subsequently, XRP surged to $1.26 recently, spurred by Ripple’s ongoing legal battle with the SEC and broader crypto-positive sentiments.
Recently, CNF reported that XRP surged 1.21% amid SEC backlash, boosted by the settlement. Ripple’s legal case remains a focal point, with the SEC appealing a 2023 court decision that ruled XRP is not a security when sold to retail investors. This was also shared recently by a tweet from the official X account, Halvings.org.
**XRP Surges Past $1, Could Hit $5 Next** https://t.co/Rfw2XRSdlC
— Halvings.org (@Halvings_org) November 18, 2024
Furthermore, legal analysts suggest that a settlement or reduced penalties could reshape crypto regulations and pave the way for XRP ETFs, with mid-2025 being a potential timeline for approval.
XRP has corrected from its recent high, trading below $1.10 and possibly testing the $1 support level before any recovery. Despite this pullback, analysts see bullish momentum, targeting $2 if XRP maintains support above $0.785. The token’s strong position in cross-border payments continues to anchor its value, further solidifying its role in the cryptocurrency space.
Analysts Eye $8 As Potential
Market expert Casi Trades remains optimistic, highlighting strong daily momentum with no major divergence. However, smaller timeframes show bearish pattern signals, cautioning against impulsive trades. Maintaining a long-term bullish outlook, Casi predicts XRP could reach $8-$13, signaling significant upside for patient investors.
With legal developments and potential ETF approvals on the horizon, XRP’s trajectory remains a hot topic in the crypto world. At the time of writing, Ripple (XRP) is trading at $1.11, having surged by 1.93% in the past day and 59.34% in the past week.
