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XRP price continues to trade range-bound between $0.50-$0.53 since April, after a recent rally to over $0.71 in March due to an early bull run. Moreover, the price has failed to reach $1 again after the U.S. Securities and Exchange Commission (SEC) brought charges against Ripple Labs and executives Chris Larsen and <a href="https://coingape.com/ripple-ceo-brad-garlinghouse-predicts-xrp-etfs-arrival-by-2025/" target="_blank" rel="noopener noreferrer nofollow">Brad Garlinghouse</a>. Does this bull market hold promise for XRP price to hit $1?
<h2 id="xrp-price-ready-for-breakout">XRP Price Ready For Breakout</h2>
XRP price has been moving in a symmetrical triangle pattern since 2017 and a breakout is expected soon, as per a trending post by an X user named Amonyx. He claimed “The long-awaited big explosion in XRP is coming very soon,” asking his followers to be ready.
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GPaVx8hbwAAB64J?format=jpg&amp;name=large" alt="Image" width="785" height="393">
Similar chart patterns are shared by other analysts such as Egrag Crypto, who said XRP needs a 41% pump to break the triangle. In 2017, XRP witnessed a similar 41% surge in a month to successfully breakout above the triangle. Will history repeat itself as the conditions are different now due to <a href="https://coingape.com/tag/ripple-vs-sec-news" target="_blank" rel="noopener noreferrer nofollow">Ripple vs SEC</a> lawsuit.
XRP witnessed a 61,150% rally in 2017 and analyst predicts a 61,390% in this bull market. If a similar breakout happens, it could take XRP price to $320. Whereas, Egrag Crypto adds that measured moves and Fib targets point to double digits as inevitable.
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GPdJFzjXUAE4-A4?format=jpg&amp;name=large" alt="Image" width="795" height="347">
Also Read: <a title="XRP News: Robinhood Gains Tech Infrastructure to List XRP Ledger-Issued Tokens" href="https://coingape.com/xrp-news-robinhood-now-has-infra-to-list-xrp-ledger-issued-tokens/" target="_blank" rel="noopener noreferrer nofollow">XRP News – Robinhood Now Has Infrastructure to List XRP Ledger-Issued Tokens</a>
<h2 id="xrp-price-performance-as-remedies-decision-looms">XRP Price Performance As Remedies Decision Looms</h2>
Lawyers <a href="https://coingape.com/xrp-sec-case-update-ripple-accuses-sec-of-violation-lawyers-unveils-end-date/" target="_blank" rel="noopener noreferrer nofollow">James Murphy</a>, Bill Morgan, and others believe Ripple vs SEC will end this year or early 2025. They believe Judge Torres’ ruling will come sooner as compared to summary judgment. The community now awaits <a href="https://coingape.com/ripple-vs-sec-news-xrp-lawsuit-to-see-appeals-in-second-circuit-court-next/" target="_blank" rel="noopener noreferrer nofollow">Judge Torres’</a> decision on the scale of fines in the remedies phase.
<a href="https://coingape.com/price/xrp" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> currently trading at $0.525, up merely 0.44% in a month. The 24-hour low and high are $0.517 and $0.527, respectively. The trading volume has jumped over 9% in a last 24 hours.
XRP futures trading has increased in June as compared to a month ago, with open interest rising to 1.24 billion worth $651.33 million, as per CoinGlass.
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The post <a href="https://coingape.com/xrp-price-set-for-61390-rally-after-long-awaited-breakout/" rel="noopener noreferrer nofollow">XRP Price Set For 61,390% Rally After Long-Awaited Breakout?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Set For 61,390% Rally After Long-Awaited Breakout?

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