TL;DR
- Analysts predict targets ranging from $1.88 to $2.50, with some presenting models forecasting XRP’s next 300 days, suggesting significant price shifts.
- The ongoing Ripple v. SEC lawsuit holds potential to further impact the asset’s valuation, with expectations for a favorable outcome for the company.
The Latest Forecasts
The last several days have been quite positive for Ripple’s XRP, whose price soared by 6% weekly and is currently trading at around $0.53 (per CoinGecko’s data). The resurgence captured the attention of many analysts, with some envisioning fresh peaks in the near future.
A few days ago, the X user Mikybull Crypto observed XRP’s price trajectory and opined that “the bottom has been confirmed and is currently in preparation for an explosive move.” Captain Faibik also supported that thesis, setting a midterm target of $2.50.
Dark Defender and EGRAG CRYPTO were bullish, too, albeit in a more modest fashion. The former suggested that XRP has returned to a pattern that could eventually fuel a price rally to as high as $1.88.
For their part, EGRAG CRYPTO presented a Structural, Sentiment, Macro, and Psychological (SSMP) model that depicts the next 300 days. The pattern consists of four essential stages, with the first showing the potential of a substantial rally in the price range of $0.53-$0.58.
The second phase is when XRP reaches $0.63-$0.70, whereas the third ($0.75-$0.85) signals the start of an actual bull run.
“0.93-$1 is where emotions clash – fear, greed, anxiety, and overconfidence. A monthly close above this range could mean saying goodbye forever to prices below $1,” the analyst concluded.
Last month, EGRAG CRYPTO presented two potential paths for XRP’s possible price growth in the following months. The first scenario depicts it trading in the $1.20-$1.80 range by June-July, while the second option hints at an ascent to an all-time high of $4 by September this year.
Ripple v. SEC: Waiting for a Resolution
Another major element that could positively impact XRP’s price in the short term is the potential outcome of the lengthy lawsuit between Ripple and the US Securities and Exchange Commission.
The company secured three partial wins last year, making the regulator seem like the underdog (according to some industry participants). XRP’s value spiked after each victory, with many expecting an even more significant surge in the event of a decisive triumph for Ripple.
Despite the start of the trial last month, it remains unclear when the case will be officially closed. One person who thinks this may happen before the end of the summer is the American attorney Jeremy Hogan. He believes the legal spat could be resolved after a $100 million settlement.
Take a look at our dedicated video below to find out more about the lawsuit, its specifics, and possible impact on XRP:
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