Price Action: $XRP is trading near $2.99, slightly down intraday.
On-Chain Signal: A striking 94% of $XRP XRP holders are currently in profit, indicating elevated risk of profit-taking and a potential correction of up to 20% toward $2.39.
Technical Outlook: Elliott Wave analysis hints at a possible bullish continuation with new highs projected into late 2025.
Trader Sentiment & Forecasts:
XRP has slipped below $3.10, lagging behind broader crypto rally while markets await spot ETF clarity.
Optimistic long-term scenarios see $XRP potentially reaching $6, backed by legal clarity, favorable U.S. policy shifts, and ETF momentum.
Legal Proceedings: The SEC filed a status report in the Ripple lawsuit, with the final appellate decision still pending.
Summary Table
Short-term risk High — With 94% of holders in profit, a pullback toward ~$2.39 is plausible if holders start selling.
Technical potential Bullish setup via Elliott Wave could push prices higher toward $6+ in the medium to long term.
Regulatory developments Resolution from the appeals court in the Ripple vs. SEC case remains a critical catalyst.
Macro sentiment Market awaits ETF clarity; XRP is currently underperforming broader crypto as investors favor assets with clearer ETF pathways.
Summary Outlook
Support near $3 is crucial—breach here raises the potential for downside correction.
Bullish technical patterns could drive upside—especially if legal clarity and ETF developments align.
Regulatory updates and macro sentiment remain pivotal for near- and longer-term trajectories.
#XRP #Ripple #CryptoNews #Blockchain
