TL;DR
- Ripple’s lawsuit resolution with the SEC is nearing completion, but some warn it’s already priced in.
- XRP is up almost 30% weekly, as analysts eye a breakout above certain levels that could spark a further rally.
‘You Are Already Late’
The official resolution of the years-long lawsuit between Ripple and the US Securities and Exchange Commission (SEC) seems just around the corner. Several days ago, the two parties filed a joint motion to hold the appeal and cross-appeal on their case, while the company will not submit its appellate brief on April 16 (as previously expected).
This wasn’t considered a big surprise and triggered little-to-no price volatility for Ripple’s native token, XRP. After all, CEO Brad Garlinghouse previously announced that the regulator had dropped its appeal against the firm, describing the move as “a resounding victory.”
The final agreement now depends on the Commission’s approval and could be just a matter of time. If given the green light, the SEC and Ripple will be able to finalize the settlement terms and close the lawsuit that has been ongoing since December 2020.
One X user who recently touched upon the potential end of the case is All Things XRP. They warned the community that closing this chapter might not act as a price catalyst for Ripple’s cross-border token:
“You are already late. That’s priced in.”
They claimed a substantial rally could occur after other potential developments surrounding Ripple, such as inking important deals with other entities. Over the past months, there has been rising speculation that the company plans to shake hands with Cardano.
Most recently, Ripple spent over $1.2 billion to acquire prime brokerage giant Hidden Road, which many analysts believe could be a game-changer for XRP’s future price trajectory.
Another factor that may play a role is the possible approval of a spot XRP ETF in the US, which would enhance the asset’s legitimacy among institutions and perhaps increase their adoption levels.
Well-known companies racing to roll out such an investment vehicle include Grayscale, Bitwise, 21Shares, Franklin Templeton, and others. According to Polymarket, the product’s odds of seeing the light of day before the end of 2025 are just south of 80%.
XRP Price Outlook
Ripple’s native cryptocurrency currently hovers at around $2.12, which represents a solid 28% increase on a weekly scale.
Analysts remain optimistic that a further pump could be on the way. Ali Martinez recently assumed that XRP trades within an ascending triangle, with key resistance at $2.22. He believes a breakout above that level might ignite a rally to as high as $2.40.
For their part, CRYPTOWZRD suggested that a jump beyond $2.2050 “should offer a further upside move” and push XRP to $2.33 or higher. On the contrary, the analyst argued that $2.070 is “the next bearish location.”
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