- XRP needs a confirmed close above $2.66 to signal a strong bullish breakout.
- SEC’s case withdrawal boosts XRP ETF approval chances, now estimated at 80%.
- Regulatory shifts under Trump may support a more favorable crypto environment.
XRP’s market outlook has been shaken up by the SEC dropping its case against Ripple, sparking optimism among investors. The big question now: where’s XRP headed? Analysts are split on whether we’ll see a major jump or another dip.
Analysts’ Take on XRP’s Next Move
Dark Defender is still bullish, saying the path looks clear for XRP to go up. He sees strong daily chart action, and the legal win just adds to the long-term potential. But he also says price action needs to back up the positive sentiment.
EGRAGCRYPTO is more cautious, wondering if XRP is forming a double bottom or about to head down in another wave. He points to the $2.65-$2.70 range as key. If XRP can’t close above that, we might see another drop.
Related: Ripple Wins Big (Again): SEC Drops Appeal in XRP Lawsuit – What’s Next for the Company and XRP?
However, he notes that a close above $2.66 could signal a strong bullish move, with more confirmations at $2.97 and $3.40 potentially leading to targets between $5 and $8.
SEC’s Retreat Sparks XRP ETF Chances
The SEC decision to not go ahead with its lawsuit appeal against Ripple has boosted the odds of an XRP ETF getting approved soon. Data from Polymarketcap now shows an 80% chance of that happening.
As of press time, XRP is trading at $2.51, up about 11.79% on the last day and 13.87% over the past week. With 58 billion XRP out there, its market cap is roughly $146 billion.
Regulations Overhaul and Market Impact
The regulatory scene is still changing, especially with the current administration. President Trump has made moves to push back against the SEC’s previous stance on crypto which has started to show in the many of the cases being dropped against crypto companies.
Related: “Ripple Custody” Trademark Filed: Ripple Expands into Crypto Storage
With Gary Gensler no longer as SEC Chair, the agency seems to be shifting gears, and acknowledging several XRP ETF applications. They have until mid-October to make a final call, and the market’s watching closely.
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