bullish

when

Verge

TL;DR 
<ul> 
 <li>XRP’s price surged last week following a court ruling in the Ripple v SEC case.</li> 
 <li>Despite some recent decline, there is ongoing optimism for a potential “mega run” and new highs for XRP.</li> 
</ul> 
<h2 id="a-href-https-cryptopotato-com-wp-content-uploads-2024-08-xrp_cb-29-jpg-data-wpel-link-internal-a"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP_CB-29.jpg" data-wpel-link="internal"></a></h2> 
<h2 id="span-data-preserver-spaces-true-where-to-now-for-xrp-span">Where to Now for XRP?</h2> 
Ripple’s XRP made the headlines at the end of last week when experiencing a 20% price rally on a daily scale. It rallied to almost $0.64, while its market capitalization crossed $35 billion. 
Its impressive resurgence came shortly after the latest development in the Ripple v SEC lawsuit. As CryptoPotato <a class="editor-rtfLink" href="https://cryptopotato.com/ripple-fined-125m-in-lawsuit-against-sec-xrp-price-soars-20-immediately/" target="_blank" rel="noopener" data-wpel-link="internal">reported</a>, Judge Analisa Torres ruled that the company must pay a $125 million fine for violating certain securities laws. 
While the sum may sound substantial, it represents a deduction of 94% from the regulator’s initial demand of around $2 billion. Many industry participants (including Ripple’s CEO, Brad Garlinghouse) viewed this as a victory, hence the asset’s positive performance. 
However, XRP lost momentum in the following days and currently trades at around $0.57 (per CoinGecko’s data). Numerous analysts, though, remain optimistic that new peaks are on the horizon.&nbsp; 
The X user CJ <a class="editor-rtfLink" href="https://x.com/CJ900X/status/1822789651972985294" target="_blank" rel="noopener" data-wpel-link="external">claimed</a> that XRP has been ranging in a “fair value gap” between $0.54-$0.58, expecting a push towards $0.658. 
JAVON MARKS chipped in, too, arguing that the token has recently mirrored a similar bullish pattern in the form of a “hidden bull divergence” observed in 2016-2017, or shortly after experiencing a 62,100% price explosion. 
<blockquote>
 “The Bullish Pattern looks to be complete, and XRP may be right in the early stages of its next colossal climb,” the analyst <a class="editor-rtfLink" href="https://x.com/JavonTM1/status/1822256124776649134" target="_blank" rel="noopener" data-wpel-link="external">added</a>.
</blockquote> 
For their part, Alex Clay <a class="editor-rtfLink" href="https://x.com/cryptclay/status/1822653017205649919" target="_blank" rel="noopener" data-wpel-link="external">assumed</a> that XRP’s price movements have formed a “symmetrical triangle inside the symmetrical triangle.” The crypto enthusiast suggested this might be a good moment for investors to hop on the bandwagon or increase their exposure. 
A symmetrical triangle is a pattern characterized by converging trendlines connecting lower peaks and higher dips. It is typically observed during periods of consolidation before the valuation breaks out, either upwards or downwards. 
<h2 id="span-data-preserver-spaces-true-some-previous-forecasts-span">Some Previous Forecasts</h2> 
Doctor Profit and CrediBULL Crypto were among the analysts touching upon XRP immediately after its surge last week. The former <a class="editor-rtfLink" href="https://cryptopotato.com/how-high-can-ripples-xrp-price-go-after-the-125-million-fine-top-analyst-predictions/" target="_blank" rel="noopener" data-wpel-link="internal">described</a> the latest court ruling surrounding the Ripple v SEC case as “a massive, bullish event due to the newfound regulatory clarity and the flood of bullish rumors that will follow.”&nbsp; 
<blockquote>
 “The lawsuit pressure is over, and remember, we&nbsp;didn’t&nbsp;have a bull run in 2021 for XRP!&nbsp;This&nbsp;means the indicators are not just bullish—they’re&nbsp;extremely bullish for XRP with a very healthy chart,”&nbsp;they suggested.
</blockquote> 
The trader also speculated that Ripple and the SEC might even start working on an XRP ETF behind doors, which could trigger an additional bullish environment.&nbsp; 
CrediBULL Crypto also viewed the magistrates’ decision as a win, predicting it might be followed by a “mega run” for Ripple’s native token and a new all-time high. 
The post <a href="https://cryptopotato.com/ripple-price-predictions-is-xrp-on-the-verge-of-a-massive-move/" rel="nofollow">Ripple Price Predictions: Is XRP on the Verge of a Massive Move?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Ripple Price Predictions: Is XRP on the Verge of a Massive Move?

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