XRP is currently trading at $2.37 and has dipped by 1.62% in the past 24 hours. The volume of trading has gone up by almost 10% to $4.32 billion. XRP has risen by 9.46% in the past week and is witnessing some good momentum even in its recent slide.
Even as the price has declined, XRP remains heavily traded. There are numerous investors who are hopeful of its price action in the future as the cryptocurrency consolidates in a particular pattern. The market is showing cautious optimism as the price of XRP has the possibility of breaking out of the prevailing trend.
Will XRP hit $15 with a bullish outlook
Crypto analyst Ali makes a prediction that XRP might aim towards $15 if it maintains its ongoing pattern. The prediction depends on the formation of a symmetrical triangle on the charts and a breakout around the middle of the year 2025. The price target of $15 is established by measuring the triangle’s peak-to-base height from the widest part and drawing a line up from the breakout.
Secondly, levels of resistance are estimated at $5.20 and $7.80 using Fibonacci retracement levels. Although it is indicative of a possible bullish trend, historical volatility and market uncertainty make the increase difficult to anticipate and investors should exercise caution when using these estimates.
Ripple and SEC settle and impact on XRP
Ripple Labs and the US SEC jointly came to an agreement which has the possibility to influence the price of XRP substantially. The agreement lessened Ripple’s financial costs, giving the firm greater flexibility in how it operates. Ripple will make a payment of $50 million instead of the initial $125 million fine, marking a change in the regulatory landscape.
The settlement also removes legal barriers, and investor confidence increases. Ripple now has fewer legal hurdles to overcome. Sentiment around XRP is better now. This is a welcome development both for Ripple and the general cryptocurrency market, opening the door to further advancements in crypto regulations.
