Why Are XRP Investors Getting Ready for a HUGE Breakout? Analyst Explains

XRP investors are excited about possible price increases. Cheeky Crypto, a YouTube channel with 182,000 subscribers, explained why XRP might be about to make a big move.

XRP traders are getting ready for a HUGE breakout as an analyst explains why

The ongoing legal battle between Ripple and the SEC is the main focus for many, with some thinking that a potential settlement could cause XRP’s price to surge. But will this actually happen or is it just more speculation?

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The narrative that a permanent injunction on Ripple selling XRP to institutional investors is set to be lifted by the SEC has been covered extensively.

Recently, crypto journalist Elena Terret stated that the legal and regulatory landscape is shifting rapidly, and she expects more positive developments.

Moreover, she mentioned that the SEC is open to settling with Ripple, which could have bullish implications for XRP.

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Could We See XRP Price Soaring Like Before?

Previously, in July 2023, when a judge ruled that XRP is not a security, the token’s price shot up 101% from $0.47 to nearly $0.95 before cooling off.

If the market responds similarly to a settlement, some analysts say that XRP’s price could hit $4.48.

Others are even more optimistic, predicting that XRP’s price could surge to $5.58 with a 150% increase from its current level or reach $6.69 if it soars by 200%.

However, some individuals doubt that this scenario will unfold as they believe that the market has been anticipating this news for a while.

They noted that when this news finally hits, it might not cause prices to react as strongly as some anticipate.

Will The Market React The Way Traders Hope?

It’s important to note that a favorable settlement for Ripple doesn’t necessarily mean that XRP prices will skyrocket.

The crypto market is influenced by various factors, including the global economic climate, investor sentiment, and regulations imposed by different institutions.

According to experts, while a settlement would certainly benefit Ripple as a company, it might not translate into significant gains for XRP itself.

The psychology of investors plays a crucial role here. If traders perceive this development as paving the way for XRP’s growth, they might intervene to push prices higher.

Conversely, if they feel like this news was already priced in, then the reaction could be more underwhelming.

What’s Next For XRP?

The Ripple case is one of the biggest legal battles in crypto history, and its outcome could shape the industry for years to come.

If the SEC pulls back, it could boost investor confidence and encourage large institutions to allocate more funds to XRP.

However, nothing is certain at this point. Investors are advised to continue monitoring the situation closely, stay updated, and be prepared for anything that may arise.

The next few months could be pivotal in determining the future trajectory of XRP—whether it's poised for a breakout or will continue to trade within its usual ranges.