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July 19, 2024
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XRP May Be Soon Supercharged To $1! This Level Can Spark A Potential Bullish Trend For XRP Price

The post XRP May Be Soon Supercharged To $1! This Level Can Spark A Potential Bullish Trend For XRP Price appeared first on Coinpedia Fintech News

The prolonged legal battle between the SEC and Ripple Labs seems to end soon with a victory for Ripple. As the final judgment is set to be in March, it creates fresh excitement in the XRP community to accumulate more tokens ahead of a massive pump. 

XRP Investors Remain In The Light Of Bullish Hope 

Ripple’s lawsuit continues to bring surprising moments in the crypto community as the firm could pay a fine to settle the allegations. In response to a user’s query about the possibility of a partial settlement and partial appeal that could potentially end up in the Supreme Court, John Deaton, the founder of CryptoLaw, shared his insights on the Ripple lawsuit’s settlement and appeal path.

According to Deaton’s opinion, Ripple could pay between $100-250 million to settle the lawsuit if the SEC publicly acknowledges that the sales of XRP, present and future, are not classified as securities. 

However, Ripple may proceed legally as the firm has won four out of the last five cases and is now hoping for the final victory in its last case. Moreover, Ripple CEO Brad Gardlinghouse has assured investors that the firm would not pay a single penny, which sparked more confidence in XRP bulls. 

Will XRP Break Its Bearish Consolidation?

Ripple’s willingness to battle the lawsuit against the SEC in court has convinced investors of an upcoming bullish scenario. Moreover, the expectations of XRP’s massive surge have also touched heights as SEC’s defeat will strengthen the crypto market. 

As of writing, XRP price trades at $0.38 with a minor downward retracement. According to our analysis, XRP price is trading on the verge of a bullish rally as the RSI-14 indicator creates a bullish room near the EMA-200 trend line. 

If XRP breaks above its triangle pattern at $0.4, it is poised to tend toward its 61.8% Fib level at $0.45, from which the token may reach its Bollinger band’s upper limit of $0.55. A continuous spike in trading volume and buyers’ interest in accumulating XRP may push the token beyond the bullish goal of $1 if Ripple secures the victory. 

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