XRP News: Cryptocurrency Rebounds Strongly, Targeting $3.31 to $4.48 Price Range

Ripple’s XRP cryptocurrency has shown significant resilience, rebounding quickly from a crucial support level despite recent market volatility. Here’s a closer look at the latest developments and potential price targets for XRP.

XRP Rebound Strongly and Breakout Could Push Price Towards $4.48

Ripple (XRP) rebounds quickly from its crucial support level and is slightly up by 0.62% with a trading price of $2.24. The cryptocurrency is benefiting from Bitcoin’s surge and positive market conditions. XRP is on the verge of a breakout and targeting the $3.31 to $4.48 price range. Recently, XRP hit its recent low at $1.91 triggered by Bitcoin’s decline that caused fear in the market and propelled altcoins to lose their ground. As of now, the overall market is turning from bearish to a positive recovery phase, and XRP is benefiting from these positive market conditions.

Ripple’s $125M Fine in Question as SEC Case Reaches Final Stage

The SEC vs. Ripple case is nearing its conclusion, with ongoing settlement negotiations. Ripple aims to secure better terms, questioning the fairness of penalties amid shifting regulatory policies. The delay in the case stems from complexities surrounding the legal implications of accepting the August 2024 ruling.

XRP Settlement Nears: Potential 300% Surge if SEC Rules Favor Ripple

The XRP community eagerly awaits a potential settlement in Ripple Labs Inc.’s lawsuit with the U.S. Securities and Exchange Commission (SEC). If the SEC settlement favors Ripple, XRP could surge 300% to $2.55. Ripple is seeking reduced penalties from the SEC, challenging the $125M fine. Additionally, Franklin Templeton has filed for an XRP ETF with a 60% approval chance. The settlement’s terms might be influenced by Ethereum’s ICO, raising questions about XRP’s future classification. Fox Business Senior Correspondent Charles Gasparino revealed that a key question is whether Ripple will convert to a utility rather than a security, with Ethereum’s ICO seen as similar to XRP’s issuance.

BlackRock Eyes XRP ETF Filing After SEC Lawsuit Conclusion

BlackRock’s filing for an XRP ETF is highly awaited in the XRP community, as the company manages $11.6 trillion in assets. Franklin Templeton, a $1.5 trillion asset manager, recently filed its own S-1 form for an XRP ETF. With increasing interest in digital assets, companies like BlackRock are eager not to miss the opportunity, as they did with Bitcoin ETFs. The competition is intensifying with many firms, including Grayscale, eager to offer XRP futures ETFs. Nate Geraci, president of The ETF Store, has forecasted that BlackRock will file for both Solana and XRP ETFs. He predicts that a Solana ETF could be filed at any moment, while an XRP ETF would likely come after the conclusion of the SEC lawsuit.