XRP price has surged more than 6% today against the backdrop of a broader crypto market recovery, indicating renewed investors’ confidence. Besides, speculations are also soaring over a potential dismissal of the Ripple SEC case, given the recent shifting stance of the US SEC towards the crypto sector. However, a top expert recently shrugged off concerns over the lawsuit’s impact on Ripple’s native coin, saying that the crypto is likely to hit $8 irrespective of the case result.
XRP Price Soars 6%: More Stream Left?
XRP price today jumped nearly 6.25% and exchanged hands at $2.15, while its trading volume fell 32% to $5.16 billion. Notably, the crypto has hovered between $2.21 and $2.02 over the last 24 hours. Further, derivatives data by CoinGlass showed that XRP Futures Open Interest rose 7% today, reflecting the regaining market confidence.
Amid this, a renowned market analyst CasiTrades said that the correction is likely over for the crypto and XRP’s major resistance now looms at $2.2. Besides, the expert added if Ripple’s coin breaks the $2.5 ahead, it could continue to move towards the north.
Source: CasiTrades, X
Meanwhile, despite the positive market sentiment, the community has shown frustration over the US SEC’s delay in dropping the Ripple SEC case. For context, the US SEC has dropped many of the major crypto cases this week but made no comments on the long-running XRP lawsuit. Highlighting the delay, renowned legal expert John Deaton recently pushed for a settlement in the ongoing legal battle.
Will Ripple SEC Case Impact XRP Price Ahead?
Renowned market expert Dark Defender has made a bold prediction that the XRP price will reach $8, irrespective of the outcome of the ongoing Ripple SEC case. This prediction comes as Ripple’s coin has recovered today, indicating renewed investor confidence amidst a broader crypto market recovery.
The Ripple Vs SEC lawsuit has been a major point of speculation, with many investors worried about its impact on the asset’s price. However, Dark Defender’s prediction suggests that the crypto’s price will continue to rise, regardless of the case’s outcome.
In a recent social media post, Dark Defender explained that XRP has reached the lowest Fibonacci level for a 4th wave and is expected to start a 5th wave, which could push its price towards $5-$8.
Source: Dark Defender, X
This prediction is significant, given the current market sentiment. XRP’s price has been volatile in recent times, but Dark Defender’s analysis suggests that it has the potential to reach new heights. It’s worth noting that the Ripple case is still ongoing, and its outcome is uncertain. However, if Dark Defender’s prediction comes true, it could be a major boost for the traders.
Key Levels to Watch Ahead
As XRP price noted some recovery and hovered in the green zone, top experts have provided key price levels to watch ahead. For context, market pundit Ali Martinez said that the crypto has found new support at $1.65. Having said that, it’s crucial that the crypto holds this support to maintain its upward trajectory.
Source: Ali Martinez, X
On the other hand, expert Rose Premium Signals said that Ripple’s coin is currently experiencing a retracement phase, testing key Fibonacci levels. The cryptocurrency is expected to bounce back strongly from the support zone of $1.2578. If successful, this could trigger a massive recovery and a bullish breakout. Potential targets include $3.0110 and $4.2243.
Source: Rose Premium Signals, X
Having said that, it appears that the crypto is poised for a strong rally ahead. Besides, another expert has recently predicted the Ripple price to hit $320 in 2026, which has sparked significant discussions in the market.
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