XRP Price Could Hit $4 in Its Next Leg Up: Analyst Shares Major Ripple vs. SEC Update
- WBOYOriginal
- 2024-07-11 16:15:28241browse
Ripple (XRP) price has lost all its glory ever since the lawsuit by the SEC overshadowed it. However, despite the ongoing battle, analyst Big Mike has shared a chart stating that the next leg up for XRP will see the price hitting $3-$4.
(CryptoPotato - XRP Price Could Hit $4 in Its Next Leg Up: Analyst Shares Major Ripple vs. SEC Update)
People are still speculating on XRP price despite the ongoing SEC lawsuit.
Well-known crypto analyst Big Mike has shared a chart indicating that the next leg up for XRP will see the price hitting $3 to $4.
According to the analyst, this channel has supported XRP since July 2020.
Meanwhile, another analyst, Cheeky Crypto, has shared a crucial Ripple vs. SEC update.
Still think the next leg up in $XRP hits $3-$4.
This channel has supported $XRP since July 2020 pic.twitter.com/uxiiOHPgDB
— Big Mike (@BigMike_Trading) July 4, 2023
Cheeky has highlighted some key developments that the XRP community should watch out for in the coming days.
One key piece of data that the analyst shared was the July 8 deadline. Both Ripple and the SEC are expected to submit updated motions on contested portions of their briefs by this date.
The analyst also pointed out that the SEC is losing ground on multiple fronts. He also expects that this could lead to a settlement. Cheeky also spoke about a potential settlement where the SEC could reduce the penalty to as low as $10 million.
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Cheeky also highlighted that once the lawsuit is resolved, it could remove a major obstacle that is stopping the XRP price from surging. Cheeky also shared a technical analysis of XRP. He expects a short term target of 61–66 cents with a long term prediction of $2.84–$4.44.
Even though the analysis gives a glimpse of hope, the real outcome can only be analyzed after the prolonged lawsuit comes to an end.
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