Could This Spark a $10 Rally for XRP?
Ripple’s case with the SEC is becoming increasingly interesting, especially with the recent resignation of SEC Chairman Gary Gensler. Now, there are many possible outcomes, including settlement or the case being dismissed. There are rumors that the SEC is planning to hold an emergency meeting to discuss a settlement with Ripple, which could lead to a full resolution of the SEC lawsuit. While the focus is on the settlement, the real question is how this will affect the price of XRP.
The price of XRP is currently around $1.45, but we have seen it reach an all-time high of $3.84 before. This spike was driven by speculation, with little real-world adoption at the time. XRP is now positioned differently, with strong utility and adoption in areas such as central bank payments and cross-border transactions.
Edo Farina, CEO of Alpha Lion Academy From a legal perspective, the conclusion of the SEC lawsuit could mark one of the most significant events in the cryptocurrency space. Unlike other coins, XRP now has clear regulations, which could trigger a significant price increase. Conservative estimates suggest that XRP could surge above $10, a level that is not even three times its previous all-time high.
Impact of settlement on XRP price
When the SEC lawsuit is concluded, the price of XRP is likely to increase significantly, potentially reaching or exceeding $10. However, once this happens, many short-term traders may sell their holdings to take a profit, which may cause the price to retrace temporarily.
What happens after prices surge
After a potential surge, XRP may experience a correction, possibly back to the $6 range. This retracement is likely to be around 30% of the peak as traders dump XRP to take advantage of the sudden price increase.
