XRP Price Prediction: Ripple vs. SEC Lawsuit Nearing Its Conclusion, Expecting a Parabolic Rally Beyond $10

Consequently, everybody is deep in speculating about the price of XRP, as one of the most crucial junctures in the cryptocurrency’s path approaches

The protracted legal battle between Ripple and the SEC, which started in December 2020, will finally come to an end this year, with far-reaching consequences for XRP prices and cryptocurrency industry values. The lawsuit claimed that Ripple Labs needed to register XRP token securities distribution because their sales generated over $1.3 billion in revenue.

However, XRP acts as a digital currency according to Ripple, while the crypto tokens differ from both Bitcoin and Ethereum classification as securities. Earlier this year, the court ruled in a formative ruling that the sales of exchanges to retail customers do not constitute securities transactions in connection with that specific point.

This resolution essentially removes any regulatory uncertainty on XRP, which may accelerate institutional adoption. This includes the introduction of XRP ETFs and other possible strategic partnerships, such as integration with SWIFT. More recently, such moves could very well push the price of XRP over the $10 mark, which is considered by many analysts possible given the market conditions.

In the 5-minute view, XRP shows a clear consolidation phase between the grasped resistance zone near $2.18 and support at around $2.10. XRP prices repeatedly attempted to break the upper resistance zone without success and triggered several retracements. Bearish pressure set the subsequent stage with a shallow drop near support at $2.10, which was soon replenished by bulls who drove the asset back to mid-range levels.

The RSI currently reads 56.81, suggesting a neutral posture. It was seen earlier dipping into the oversold zone and hinting at possible accumulation by bulls. The MACD momentum on this chart is mixed but offers us great insight. We can see a series of golden crosses occurring at key pivot zones, suggesting an attempted bullish momentum around 06:00. These frequent scatterings of crossovers denote the enveloping tug of war in the sentiment landscape as the market patiently waits for clear guidance on the Ripple vs. SEC lawsuit. Failure to hold above $2.10 might send XRP into a subsequent drop toward the $2.06 level.

%. The lawsuit, which began in December 2020, will finally come to an end this year, has wide-ranging implications for XRP prices and cryptocurrency industry values. The suit claimed that Ripple Labs needed to register XRP token securities distribution because their sales generated over $1.3 billion in revenue.

However, XRP acts as a digital currency according to Ripple, while the crypto tokens differ from both Bitcoin and Ethereum classification as securities. Earlier this year, the court ruled in a formative ruling that the sales of exchanges to retail customers do not constitute securities transactions in connection with that specific point.

This resolution essentially removes any regulatory uncertainty on XRP, which may accelerate institutional adoption. This includes the introduction of XRP ETFs and other possible strategic partnerships, such as integration with SWIFT. More recently, such moves could very well push the price of XRP over the $10 mark, which is considered by many analysts possible given the market conditions.

In the 5-minute view, XRP shows a clear consolidation phase between the grasped resistance zone near $2.18 and support at around $2.10. XRP prices repeatedly attempted to break the upper resistance zone without success and triggered several retracements. Bearish pressure set the subsequent stage with a shallow drop near support at $2.10, which was soon replenished by bulls who drove the asset back to mid-range levels.

The RSI currently reads 56.81, suggesting a neutral posture. It was seen earlier dipping into the oversold zone and hinting at possible accumulation by bulls. The MACD momentum on this chart is mixed but offers us great insight. We can see a series of golden crosses occurring at key pivot zones, suggesting an attempted bullish momentum around 06:00. These frequent scatterings of crossovers denote the enveloping tug of war in the sentiment landscape as the market patiently waits for clear guidance on the Ripple vs. SEC lawsuit. Failure to hold above $2.10 might send XRP into a subsequent drop toward the $2.06 level.