XRP Poised for Breakout as Ripple and SEC Move Toward Potential Settlement
XRP is gaining significant attention amid a potential legal resolution between Ripple and the SEC, with technical indicators suggesting a bullish reversal. The cryptocurrency is currently trading at $2.02, up 2.83% on the day, as both parties file for a 60-day pause in appeals, hinting at a possible settlement.
XRP Set to Explode? Ripple and SEC File Joint Request
American fintech firm Ripple and its cryptocurrency XRP are once again the center of attention in both legal and market circles. At press time, XRP is trading at $2.02, up 2.83% on the day, with technical indicators hinting at a potential trend reversal. Ripple and the SEC have jointly filed a motion to place their respective appeals and cross-appeals in a 60-day temporary suspension, suggesting both parties are edging closer to a settlement. This pause will give them time to finalize an agreement-in-principle that could resolve the lawsuit.
XRP Could Overtake ETH with ETF Approval and Ledger Integration Boost
XRP price has lost momentum this year despite benefiting from notable headlines like the end of the SEC case. Ripple (XRP) was trading at $2 on Friday, down 41% from its highest point this year. However, there are rising odds that XRP will overtake Ethereum (ETH), whose price has crashed by over 61%. The spread between their two market caps has narrowed to just $45 billion. The top catalysts that could help XRP flip Ethereum in terms of valuation include the growth of the XRP Ledger network, which is a decentralized and open-source platform designed for fast, low-cost transactions.
Ripple (XRP) Price Forecast: Short-Term Volatility, Long-Term Target Set at $19 to $45
Ripple’s XRP is currently trading at $2.01, with a 24-hour trading volume of $8.12 billion and a market cap of $117.01 billion. Despite short-term weakness and recent drops, XRP is showing signs of stabilizing. A bullish crossover between the 21-day EMA and 33-day MA aligns with historical patterns that previously led to major rallies. Long-term projections remain highly bullish, with price targets between $19 and $45 if XRP repeats past cycle behavior, with $27 as a conservative estimate.
XRP Price Explosion Imminent as Ripple and SEC Pause Appeals
Ripple and the U.S. Securities and Exchange Commission (SEC) have filed a joint motion to pause their ongoing appeals, signaling a potential end to their high-profile legal dispute that has gripped the blockchain payments startup since 2020. On Thursday, the SEC and Ripple submitted a joint motion to the US Court of Appeals for the Second Circuit to suspend their respective appeals after reaching an agreement-in-principle to finalize a potential settlement. The settlement is awaiting Commission approval, and no briefs will be filed on April 16th. This development could have a significant impact on the price of XRP.
