The Ripple vs. SEC lawsuit is coming to a close, paving the way for XRP to break out.
After years of intense legal battles, the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) is finally nearing its conclusion. This could be a turning point for XRP to escape legal shadows, laying the groundwork for transparency and trust from the market. XRP may enter a new development phase, with broader acceptance from institutions and investors.
Will XRP break out in August?
On June 16, Ripple and the SEC agreed to temporarily pause the appeal, indicating that the final ruling is about to be announced. Accordingly, the ban on Ripple will be lifted, and the civil penalty will be reduced to 50 million USD, with the remaining fine refunded. This is a clear signal that Ripple is gaining an advantage and major financial institutions are starting to take notice.
What will happen next?
The final ruling is expected to be announced before August 15. Judge Torres may confirm that XRP is not a security, which will open the door for institutional investment funds to participate in the XRP market. Until then, the major price increase of XRP may pause.
XRP ETF approval chance at 95% - A new step forward in the cryptocurrency market.
In parallel with positive legal signals, the XRP spot ETF fund is in the public consultation phase. With strong support from the market and analysts, the likelihood of approval currently stands at about 91%. Two leading analysts James Seyffart and Eric Balchunas from Bloomberg estimate the approval rate for the XRP spot ETF could reach 95%.
XRP has firmly established support at 1.88 USD and is maintaining the Wave 5 bullish pattern. This signals that a major breakout could occur soon.
XRP is about to break out as historical patterns reemerge.
Analyst EGRAG Crypto states that XRP is repeating a historical pattern that has triggered strong growth in previous cycles. From the peak of 3.40 USD in January, then adjusting to 1.61 USD in April, XRP is now retesting this important support area. Based on previous cycles, the price target could reach 11.50 USD, 27 USD, or even 42 USD, depending on the strength of the next bullish wave.
XRP has a tradition of strong growth in July. Previous years show a weak second quarter, followed by explosive recovery in the third quarter. Currently, XRP is trading around 2.02 USD, and if history repeats, July will be the time for XRP to explode into a new wave.
XRP is on the brink of transformation thanks to positive legal advances and bright market signals. Cryptocurrency investors need to stay updated closely to not miss the opportunity from this potential bullish wave. The door for transparency, growth, and mass adoption of XRP is wider than ever.
Source: https://tintucbitcoin.com/xrp-dat-dinh-trong-cuoc-chien-crypto/
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