XRP Gains Amid Ripple vs. SEC Settlement Rumors: Could $28 Be Next?

NAIROBI (CoinChapter.com) — XRP prices soared, leading the gainer’s list, after speculation intensified about the Ripple vs. SEC case settlement. The renewed interest in Ripple’s ongoing legal battle has sparked significant trading activity. At press time, XRP traded at $0.6479, up over 8.16% from the previous day. This surge reflects growing optimism among investors who anticipate a favorable outcome for Ripple.

Legal Expert Predicts Ripple vs. SEC Settlement

Pro-crypto lawyer Fred Rispoli predicted a settlement in the Ripple vs. SEC case by July 31. Judge Analisa Torres presides over this legal battle. The case’s outcome could significantly impact XRP’s market position. Ripple’s partial victory in July 2023, declaring XRP a non-security, strengthened its market stance. However, the possibility of an SEC appeal still looms.

The SEC’s upcoming closed-door meeting on August 1 may further influence XRP’s price. The meeting’s agenda includes potential settlement options for the Ripple lawsuit.

Ryan Lee, Chief Analyst at Bitget Research, suggests this meeting could drive the Ripple token’s price in August. He mentioned that a legal settlement might be announced soon, which could positively affect XRP’s price movement.

Lee also noted the potential influence of U.S. election campaigns on XRP’s price, particularly the Democratic candidate Harris’s close ties with industry participants like Ripple.

XRP Breaks Long-Term Downtrend, Eyes $1.50 Resistance

XRP/USD has successfully broken out of a 2,400-day descending trendline, signaling a potential long-term bullish reversal. The weekly chart highlights the significant breakout, with XRP currently trading at $0.63979, up 6.39% in the last 24 hours.

In the past 30 days, Ripple had 21 green days out of 30, showing a 70% success rate.

XRP has formed a descending triangle pattern, a bearish continuation setup. The lower trendline, serving as support, has been tested multiple times since 2017. The upper trendline, marking resistance, has kept the price suppressed. XRP’s recent surge to $0.63979, breaking the upper trendline, signals a possible bullish breakout.

The Relative Strength Index (RSI) on the weekly timeframe stands at 61.78, indicating growing bullish momentum. The RSI is approaching the overbought territory, suggesting strong buying interest but also cautioning about potential short-term pullbacks.

Additionally, blockchain intelligence firm Santiment reports a significant increase in wallets holding at least 10,000 XRP over the past five weeks, reaching a six-month high of 279,400 addresses. This surge in large wallets correlates with XRP’s market value throughout 2024.

XRP price prediction — Could It Hit $28 by 2025?

Donovan Jolley of D.I.Y Investing emphasized that XRP is breaking free from a 2,400-day downtrend, marking its first reversal since the 2017 cycle. Jolley highlights XRP’s higher adoption rate compared to 95% of altcoins and predicts it could soar to $28 by the end of 2025 if the current trend persists.

Tony “The Bull” Severino, a Chartered Market Technician, pointed out that the 3M Raging Bull indicator for XRP has been activated for the first time since 2017, indicating a potential long-term upward trajectory.

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