TL;DR
- XRP is gaining renewed attention, with some analysts predicting a rise to as high as $5.85 if momentum builds.
- The SEC’s 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’
Ripple’s XRP jumped last week due to the major developments in the lawsuit between the company and the US Securities and Exchange Commission (SEC). As reported by CryptoPotato, the agency dropped its appeal against the firm, which propelled the token’s price to as high as $2.60.
Since then, XRP has lost some steam and is currently trading at around $2.45. However, many market observers believe that investors should be patient, as another major rally may be just around the corner.
The X user CRYPTOWZRD anticipates “a big week” for the token, projecting a spike to a new all-time high (ATH) should XRP surpass the $2.80 resistance zone. Analyst Dark Defender shares a similar sentiment, indicating that XRP looks “excellent” at its current level. They foresee a potential rise to $2.75 with a minor obstacle at $2.55, and an eventual surge to $5.85.
Furthermore, last week, the same analyst suggested that the recent developments in the Ripple vs. SEC case have cleared the path for a surge towards a new all-time high for XRP.
“We knew the news would follow. Some believed, some did not. It doesn’t matter, in the end. Roads are Clear, Skies are Blue,” they stated.
Waiting for This Announcement
Several industry participants believe that XRP’s valuation could see additional gains once the US SEC officially announces its decision to drop the appeal against Ripple. It’s important to note, however, that some analysts argue the lawsuit’s outcome is already priced in and will not significantly impact XRP’s volatility.
With the case now resolved, the next significant catalysts for a rally include the possible approval of a spot XRP ETF in the US and Ripple’s potential IPO filing. Companies like Grayscale, 21Shares, and Bitwise are pushing to introduce such investment vehicles. The SEC has acknowledged some applications, and current odds for approval by the end of 2025 stand at 83%, according to Polymarket.
The recent developments inject optimism into the market, suggesting XRP could see a notable increase if catalysts materialize. Investors will be keeping a close eye on upcoming announcements and market sentiment as the week unfolds.
