Ripple's digital token, XRP, moving toward the $12.6 mark becomes increasingly probable following the SEC's resolution of the Ripple court case, suggests financial expert
In a significant development for the cryptocurrency market, the SEC has officially closed its long-running case against Ripple, a move that is expected to reduce regulatory uncertainty and pave the way for wider institutional acceptance of XRP.
The closure of the case, confirmed by the newly appointed chairman of the SEC, Paul Atkins, and endorsed by SEC Commissioner Hester Peirce, is seen as a major bullish catalyst for XRP. Ripple's chief legal officer, Stuart Alderoty, thanked Chairman Atkins for his leadership in resolving the case.
The closure of the case comes at a time when XRP is showing a bullish trend, with the cryptocurrency currently trading around $3.50. The bullish momentum is fueled by technical breakouts, institutional accumulation, and improving market sentiment.
Analysts and market watchers anticipate strong upward momentum, with price targets ranging from about $9 to $12.6 by late 2025. The bullish target of $12.6 is based on a breakout XRP made from a multi-year triangle in November 2020, with the growth to the $3 price level recently being part of the surge predicted by that breakout.
One market watcher hinted at a possible $28 rally in a best-case scenario if certain monthly closing levels are met. Beyond 2025, various forecasts project XRP prices climbing substantially over the next decade, with conservative models estimating $24 by 2035 and more optimistic predictions suggesting prices as high as $73 to $1,000 by 2035 based on sustained growth and adoption.
Another significant driver for XRP's price appreciation is the potential launch and approval of XRP exchange-traded funds (ETFs). ETFs would provide easier access for institutional and retail investors, increasing capital inflows and liquidity. In fact, this year has seen several XRP ETFs launched in Canada, Europe, and Brazil.
However, the SEC has been delaying the decision on applications for spot XRP ETFs in the U.S., with several companies filing to launch such products. The launch of a futures XRP ETF in the U.S. by BlackRock's iShares is a promising sign, but BlackRock, the world's largest wealth management firm, has said no to a similar XRP ETF product.
The regulatory framework, intended to foster innovation while protecting investors, will now be the focus of the SEC's efforts. The chair stated that regulatory efforts will now focus on building a clear regulatory framework for crypto.
In conclusion, XRP is in a bullish phase with strong technical and fundamental support. The closure of the SEC lawsuit and the launch of XRP ETFs are pivotal upcoming events likely to drive demand and validate positive price targets near $12.6 or higher within the next year. Institutional accumulation and growing adoption further reinforce XRP’s promising prospects in both the near and long term.
[1] Source for points 1, 2, 3, 4, 5, and 6: https://www.theblockcrypto.com/linked/119245/xrp-price-target-12-6-by-year-end-2025-as-ripple-lawsuit-closure-nears
[2] Source for point 7: https://www.theblockcrypto.com/linked/119142/whales-are-accumulating-ripples-xrp-as-price-targets-soar
[3] Source for point 8: https://www.theblockcrypto.com/linked/118995/ripple-xrp-price-forecast-2025-2035
[4] Source for point 9: https://www.theblockcrypto.com/linked/119246/ripples-xrp-price-target-28-by-year-end-2025-as-triangle-breakout-continues
[5] Source for point 10: https://www.theblockcrypto.com/linked/119249/ripple-price-could-reach-15-by-2026-as-xrp-continues-to-outperform-bitcoin-analyst-says
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