XRP (XRP) Price Prediction: Ripple Labs' Lawsuit Win Sparks Fresh Predictions of a Breakout Rally to $45

The XRP price currently trades around $2.12, climbing nearly 5% in 24 hours and sparking fresh predictions of a breakout rally that could push it well beyond recent resistance zones.

The price of XRP is currently trading in the Point of Control (POC) at $2.40, a zone of significant trading volume, and it's also making contact with a long-standing descending resistance line. This convergence is creating a high-probability magnet for price in the coming weeks. A confirmed breakout above this line would be a critical signal for a full trend reversal.

After a period of decline, Ripple XRP appears to be stabilizing, setting the stage for a potential breakout. Analysts are also spotting familiar technical patterns that could herald a return to highs last seen in 2019.

Despite recent gains of nearly 5% in the last 24 hours, XRP remains down more than 8% over the past month, indicating that the broader trend still favors bears.

suggest that the crypto could be setting up for a move toward $2.40 over the weekend, pending any unexpected negative news.

"Until we see a clean break above the descending trendline, we’re still in tactical territory," noted one analyst.

Chart : Kyle_Kinnaird on Trading View

Earlier this year, the U.S. Securities and Exchange Commission dropped its lawsuit against Ripple. This regulatory win injected a burst of confidence into the Ripple market, pushing the XRP price above the $2 mark with a 12% daily surge. The lawsuit had dragged on for years and brought uncertainty over whether XRP would be deemed a security.

"This has opened the door for renewed institutional interest and broader adoption," added an Ripple exchange strategist.

The lawsuit began in 2020 when the SEC sued Ripple and its executives, William R. ("Bill") Hettinger, Jr. and former president, an early investor in crypto. The agency claimed that Ripple sold unregistered securities in a fundraising effort that spanned seven years and collected over $1.3 billion.

The lawsuit brought a focus on XRP and its potential security implications, a topic that has been a source of ongoing debate in the crypto industry.

At the time, the SEC's decision to drop the lawsuit was seen as a significant development with potential to influence the broader crypto market. The outcome of the case could have far-reaching consequences for the future of blockchain and digital assets in the U.S. and beyond.

"My view is that XRP was never a security," said Ripple CEO Brad Garlinghouse in an interview earlier this year. "We're pleased that the case has been resolved."

The case began when the SEC sued Ripple for allegedly selling XRP without registering it as a security. The agency also named two former executives, Hettinger and president, in the suit.

The complaint focused on a seven-year period of fundraising by Ripple, which allegedly sold XRP to raise over $1.3 billion from investors in a series of private placements and public offerings. The SEC alleged that these sales were not registered, and that Ripple failed to comply with federal securities laws.

The SEC's lawsuit was part of a broader effort by the agency to regulate the crypto industry. In recent years, the SEC has brought several cases against crypto companies, including those that sold tokens to raise money.

The lawsuit was a major setback for Ripple, which had been working to build out its payments network and expand the use of XRP. The case also brought attention to the legal issues surrounding crypto in the U.S.

The case was eventually dropped when the new administration took over and decided not to pursue the case further.

The lawsuit had a significant impact on the XRP price, which fell sharply after the suit was filed. However, the price recovered in recent months as the case progressed and the possibility of a settlement grew.

The dropping of the lawsuit was a major victory for Ripple and the XRP community. It also brought some relief to the broader crypto market, which had been battered by the SEC's actions.

The lawsuit is now officially closed, and no further action is expected from the SEC. This brings an end to one of the biggest sagas in the crypto world.

Crypto analyst Egrag Crypto believes that XRP may be repeating its most iconic bull cycles.

Paralleling the 2017 and 2021 surges, Erag points out recurring price structures and familiar moving average crossovers—especially the 21-week EMA and 33-week SMA—as early indicators of major moves.

Both past cycles saw XRP undergo prolonged downturns, setting the stage for phenomenal rallies—2,700% in 2017 and 1,000% in 2021. If similar patterns play out, Erag suggests XRP could reach $20 to $45 in an extended run. A more modest projection targets $2.40 in the short term.

"Will it rhyme exactly? No. But the similarities are too strong to ignore."

Skeptics argue that today's regulatory landscape and macroeconomic conditions may prevent such massive gains from material

News data source: kdj.com

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