Analyst Predicts XRP Rally Following Ripple-SEC Lawsuit Conclusion
Despite current bearish trends in the crypto market, some analysts foresee a significant price surge for XRP, tied to the conclusion of the Ripple-SEC lawsuit. At press time, Cryptorank data shows XRP has dropped 8.48% in July, trading at $0.435, a 1.01% increase over the past 24 hours.
Technical Indicators and Potential Downtrend
Crypto analyst The Ripple Effect (@Ripple_Effect11) on X has identified a technical indicator suggesting a potential turnaround for XRP. He expects a continued downtrend before this shift, citing a massive triangle pattern breakdown that could signal a sharp sell-off if XRP closes below $0.42 weekly.
The Ripple Effect believes XRP is in a corrective phase (Wave 2) following its 2018 peak, with Wave C currently unfolding. This analysis suggests a potential price decline before any significant upward movement.
Strategic Buying Opportunities and Price Surge Predictions
The Ripple Effect highlights potential entry points for investors aiming to capitalize on a future XRP price surge. These buy zones are between $0.12 to $0.14 and $0.07 to $0.08, aligning with retracement targets 3 and 4, respectively. He anticipates XRP’s price might decline significantly before a projected surge between 2026 and 2030, presenting an opportunity for investors to acquire XRP at a discounted price.
Ripple v. SEC Timeline Impact on XRP
A crucial factor influencing XRP’s price is the ongoing Ripple-SEC lawsuit. In July 2023, the court ruled XRP not to be a security, boosting community optimism. However, the legal battle continues, focusing on appropriate remedies for Ripple’s alleged securities law violations.
While Ripple CEO Brad Garlinghouse believes the lawsuit may conclude this year, The Ripple Effect speculates it might extend until July 2026, based on the Second Circuit Court’s timeline. This extended timeline suggests a substantial XRP price increase might be delayed until the lawsuit’s resolution, with a historic run expected once it ends.
Conclusion
These insights suggest that while XRP is currently following a bearish trend, there is potential for a significant rally following the conclusion of the Ripple-SEC lawsuit. Strategic buying opportunities exist for investors anticipating this future upswing.