Ripple (XRP) Price Prediction: More Pain or a Rebound Ahead?

Ripple XRP seemed to be consolidating near the critical price band between $2-$3, demonstrating indecision among the market participants.

Ripple (XRP) price seemed to be consolidating around the critical price band between $2-$3, showcasing indecision among market participants. However, analysts have predicted a potential rally toward the $5.85 and $8 mark.

With this, the focus remains on whether the XRP price can decisively break the $3 hurdle. At press time, XRP/USD was trading at $2.42, noting a decline of over 1.37% in the past 24 hours. Its market cap stood at $139.63 Billion, ranked 4th in the crypto market.

Interestingly, during the latest price drop, large investors or whales have seized the opportunity and loaded up their bags. A recent post on X by Ali Charts revealed that whales have been accumulating 520 million XRP. This significant buying activity should raise the demand in the short term.

Can ETF Approval and SEC Clarity Fuel XRP’s Next Rally?

The legal dispute between Ripple XRP and the U.S. SEC is the leading factor shaping XRP’s market value. The lawsuit established a drag on investor confidence, which created substantial market swings throughout the past years.

New developments in the legal proceedings have generated optimism among XRP users. When Jorge Tenreiro, the SEC’s leading crypto litigator, received a department shift. This further signaled to some that regulatory conditions were likely to change.

The near resolution of the Ripple vs. SEC litigation might decrease marketplace uncertainties about XRP and thus boost its price.

In addition to the legal case, the potential approval of an XRP ETF could also significantly impact the XRP price. A potential approval could uplift demand and improve liquidity.

XRP Price Prediction: More Pain or a Rebound Ahead?

Following a hammer candlestick formation on the weekly timeframe, the XRP price continued to struggle below the $2.70 hurdle. Despite the quick recovery from the $2 mark, the on-chain metrics still show sellers have moved their holdings to exchanges.

An uptick in exchange inflows evidenced this. It hinted that more XRP tokens were being moved to exchanges for selloff, which might trigger a further price decline.