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Following the general downturn in the cryptocurrency market, XRP showed resilience and analysts predict significant future gains for the altcoin. The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to largely maintain its impact, potentially affecting the altcoin’s price trajectory.
XRP’s Stable Performance Amid Market Fluctuations
Unlike major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which have undergone significant corrections, XRP has managed to maintain relative stability. According to CoinGecko’s data, although XRP briefly fell below $0.50, it has traded with an increase of over 5% within a two-week period. Current data shows a 3.85% increase in the last 24 hours, pricing at $0.5356.
Analysts view this stability as a promising sign for potential future gains. Mikybull Crypto and Dark Defender, respectively, based on weekly timeframe analysis, are on the bullish side expecting a strong upward attack with a target of $1.88 for XRP.
Technical Analysis Indicates Positive Momentum
Another cryptocurrency analyst, EGRAG CRYPTO, highlighted significant technical indicators that present a positive outlook for XRP. The analyst pointed out the interaction of the altcoin with the 21 Exponential Moving Average (EMA) and the formation of important monthly candles, indicating an imminent significant price movement.
The analyst emphasized the importance of remaining patient as XRP approaches a long green candlestick moment, which indicates a decisive change in the altcoin’s momentum. EGRAG CRYPTO had previously presented two potential scenarios for XRP’s price trajectory, predicting a range between $1.20 and $1.80 by June-July or a rise to an all-time high of $4 by September.
Currently, the primary driving factor that could affect XRP’s price trajectory seems to be the resolution of the legal dispute between Ripple and the SEC. The court process, which restarted last month, has not yet reached a definitive conclusion, and uncertainty continues.
Despite the ongoing conflict, some industry experts, including American lawyer Jeremy Hogan, are considering the possibility of a settlement in the near future. Hogan suggested that a potential $100 million settlement could be reached between Ripple and the SEC, but the timing of such a resolution remains uncertain due to possible delays and appeals in the legal process.
