XRP Price Analysis: Bulls Eyeing $0.90, but SEC Appeal Looms
XRP has been on a tear lately, closing out another week with an 8% gain. The cryptocurrency is up 12% for the month and is on track for its strongest quarterly return since Q1 2023. But there’s a wrench in the works: the SEC could still appeal the final ruling in the Ripple case, throwing a curveball at XRP bulls.
XRP Price Predictions: $0.90 in Sight
Crypto traders are focused on XRP ahead of the SEC vs. Ripple appeal deadline. Crypto analyst The MoonCarl, with a following of 1.3 million on X, believes XRP is forming a bullish triangle pattern that could propel the price toward $0.90, a significant 50% increase from its current level.
XRP’s recent weekly close at $0.642, its highest since December 2023, suggests strong momentum. However, it’s worth noting that the price has been trading in a range between $0.66 and $0.42 since last month.
SEC Appeal Could Derail XRP’s Rally
The SEC’s potential appeal could derail XRP’s price surge. While Judge Analisa Torres ruled against the SEC’s claim that XRP is a security, speculation is growing that the legal battle with Ripple might continue.
Pro-XRP lawyer Fred Rispoli believes there’s a 60% chance of the SEC filing an appeal, focusing on secondary market sales. He argues that if the SEC doesn’t appeal, it would be a blow to their efforts to label secondary sales as investment contracts.
Ripple CEO Brad Garlinghouse and chief legal officer Stuart Alderoty have stated that they are prepared to move forward regardless of whether the SEC appeals the ruling.
The next few days are crucial for XRP. The SEC appeal deadline is just around the corner, and the outcome could significantly impact the coin’s price trajectory.
