Despite bullish expectations, XRP is following the crypto market’s bearish trend. At press time, Cryptorank data shows that XRP has dropped 8.48% in July. However, some analysts anticipate a potential price surge for XRP, with the end of the lawsuit with the U.S. Securities and Exchange Commission (SEC).
XRP is trading at $0.435, showing a 1.01% increase over the past 24 hours. This minor surge has not changed its overall trajectory, but The Ripple Effect (@Ripple_Effect11), a crypto analyst on X, has spotted a technical indicator that could turn XRP’s trajectory around.
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However, before that turnaround, he expects a continuation of the downtrend. This indicator (a massive triangle pattern breakdown) could signal a sharp sell-off if a weekly close falls below $0.42.
The Ripple Effect further postulates that XRP is undergoing a corrective phase (Wave 2) following its 2018 peak. Within this correction, Wave C is unfolding, potentially encompassing the present market situation. This technical analysis lays the groundwork for the analyst’s prediction of a potential price decline.
Strategic Buying Opportunities and a Projected Price Surge
The Ripple Effect identifies potential entry points for investors seeking to capitalize on a future price increase. These buy zones lie between $0.12 to $0.14 and $0.07 to $0.08, corresponding to retracement targets 3 and 4 respectively.
The underlying assumption is that XRP’s price might experience a significant decline before a projected surge between 2026 and 2030. This potential price drop presents an opportunity for investors to acquire XRP at a potentially discounted price before a future upswing.
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Ripple v. SEC Timeline
A crucial factor influencing XRP’s price path is the ongoing legal battle between Ripple and the SEC. In July 2023, the court deemed XRP not to be a security. This decision instilled a sense of optimism within the XRP community. However, the legal battle continues, with the case currently focused on determining the appropriate remedies for Ripple’s alleged violations of securities laws.
Although some in the community including Ripple CEO Brad Garlinghouse believe the lawsuit will end this year, The Ripple Effect speculates that the lawsuit might extend until July 2026 based on the Second Circuit Court’s timeline, potentially delaying a definitive ruling until mid-2026.
This extended timeframe suggests that a substantial price increase for XRP might be delayed until the resolution of the lawsuit. Although this timeline is longer than many would like, The Ripple Effect expects a historic run once the lawsuit ends.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.
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