XRP Rally Ahead: Three Prominent Indicators Signal a Major Surge

Spread the love
  • Initial XRP price drop linked to Israel’s response to Iran’s attack, market stabilized afterwards. 
  • Three more filings required before Judge Torres rules on Ripple’s penalties for securities law violations.

As the long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) nears its conclusion, analysts are closely monitoring the price of XRP, Ripple’s cryptocurrency. Recent evaluations by crypto market experts suggest a possible increase in XRP’s value.

Crypto YouTuber and market analyst Mickle has identified three key indicators that suggest a positive future for XRP after the Ripple vs. SEC case resolves. Mickle’s analysis points to a notable opportunity for growth in XRP’s value.

XRP’s Price Behavior and Market Response

Mickle noted that XRP is currently in a consolidation pattern, which is often seen as a preparation stage before a cryptocurrency makes a major price move. He believes this pattern will likely end as the SEC lawsuit concludes, a scenario historically associated with substantial price volatility and increases for XRP. This is due to the market’s reaction to the clarity brought about by the end of regulatory uncertainties.

Relacionado: XRPL NFTs en el punto de mira: Ripple Exec Predicts Massive Event Impact

For example, when Judge Analisa Torres ruled in July that XRP is not a security by itself, it led to a significant influx of investors and a sharp increase in demand. This surge saw XRP’s price peak at $0.93 on July 13. Although there was a pullback in subsequent weeks, the initial price spike illustrated the market’s reaction to decisive legal developments.

Technical Indicators Supporting Growth Predictions

Furthermore, Mickle highlighted the Bollinger Bands on the XRP weekly chart as a second crucial indicator. Currently, these bands indicate a ‘squeeze’, a condition that is often followed by major price movements. Mickle referenced previous instances in 2017 and 2020 when similar patterns preceded massive rallies in XRP’s price.

Source → TYradingview

The third indicator involves XRP’s performance relative to Bitcoin. According to Mickle, XRP is entering a zone that has historically preceded significant runs against Bitcoin. This pattern has been consistent over the past decade, often following a consolidation period that lasts several months.

Read more: Ripple CEO’s prediction: Roadblocks on the way to $5 billion

Macroeconomic Influences on Crypto Markets

Mickle also discussed broader macroeconomic factors that impact the crypto market, such as current high interest rates set by the Federal Reserve, which have generally dampened investments in risk assets and contributed to broader market downturns. 

He suggested that due to economic pressures, the Federal Reserve might soon lower interest rates, potentially creating a more favorable environment for investing in cryptocurrencies like XRP.

Market Reaction to Geopolitical Developments

XRP recorded slight gains last Friday, influenced by geopolitical tensions in the Middle East and ongoing legal developments in the SEC vs Ripple case. XRP began the day at $0.50237, dipped to $0.46700, but recovered to close at $0.50358.


The initial drop in XRP’s value coincided with news of Israel’s retaliation to an April 13 attack by Iran. Iran’s response to the incident helped to stabilize the market later in the day.

Ripple’s Legal Challenges and XRP’s Future

While geopolitical issues briefly swayed market sentiments, the legal proceedings between Ripple and the Securities and Exchange Commission (SEC) continue to play a more substantial role in determining XRP’s price. 

The case is approaching a critical juncture with three more filings required before Judge Analisa Torres decides on the penalties Ripple will face for alleged violations of U.S. securities laws.

Among these filings, Ripple is expected to submit an opposition brief by April 22, with a redacted version due by April 24. This document is crucial as it will address the SEC’s initial claims and could influence the scale of financial penalties imposed on Ripple.

The post XRP Rally Ahead: Three Prominent Indicators Signal a Major Surge appeared first on ETHNews.

Powered by WPeMatico