XRP News: Potential Bullish Phase Ahead as SEC Legal Battle Progresses

Ripple's XRP token has seen a significant price rally following a favorable development in its ongoing legal battle with the SEC. The judge's decision to seal documents related to Ripple's summary judgment motion has sparked Optimism among investors, leading to a notable increase in XRP's price. This article explores the potential for a bullish phase in XRP's market performance and the implications of the SEC's potential approval of an ETF.

Ripple: How High Will XRP Go If The SEC Approves An ETF?

Ripple’s XRP token experienced a breakout following a small victory in its legal battle with the SEC. The judge agreed to seal documents related to the company’s summary judgment motion, leading to a rally in XRP's price. XRP is up 4.8% weekly, 20.3% over 14 days, 2.6% monthly, and 342.4% over the past year, though it is down 0.5% in the daily charts. The recent victory could push XRP into a bullish phase, with potential further momentum from President-elect Donald Trump’s inauguration on Jan. 20, 2025. Ripple’s CEO recently had dinner with Trump, sparking speculation about XRP's future.

Crypto Whales Move Millions of XRP to Coinbase – Will Ripple Drop Due to Sell-offs?

XRP appears to be losing momentum after a strong rise, as whales send millions of tokens to exchanges and selling pressure increases. Whale Alert reported a dump of 30.17 million XRP on Coinbase, while CryptoQuant recorded an increase of 34 million XRP in exchange reserves. At the same time, XRP is struggling with technical resistance around $2.60 and a crucial support level at $2.30. This article delves into the causes of this situation and the potential implications for XRP's price outlook.

XRP Price Faces Potential Challenges After Recent Surge to $2.60

The price of XRP experienced a significant rally over the weekend, climbing from $2.33 to $2.60, marking an 11.5% increase in less than 24 hours. Despite a slight pullback to $2.51, the asset remains up by over 6% compared to the previous day. This surge followed reports of crypto whales accumulating over a billion XRP tokens within 48 hours, taking advantage of a mid-week correction. However, popular cryptocurrency analyst Ali Martinez has warned of a potential downturn, suggesting that the positive momentum may be nearing its end.

XRP Price Breaks Out Of Symmetrical Triangle Pattern, Why The Target Is $8

A new bullish target for the XRP price has been set, as a crypto analyst has announced a recent breakout from a Symmetrical Triangle pattern. The analyst has shared a chart showing XRP’s price action on a 3-day timeframe, highlighting key resistance levels that could help propel the cryptocurrency to a bullish target of $8. According to the TradingView crypto analyst identified by the pseudonym 'PlaceUrBetsPlease,' the XRP price is breaking out from a Symmetrical Triangle pattern, suggesting upward momentum. A Symmetrical Triangle is a chart pattern that signals a period of consolidation, showing no clear indication of a bullish or bearish feeling. The analyst highlighted key resistance and support levels in his chart, projecting a new ATH target for the XRP price.