XRP (XRP-USD) has surged past $2.50, gaining over 4% and outperforming Bitcoin and Ethereum in recent days. According to TradingView data, this rally broke a bearish trend line, with XRP trading above its 100-hour Simple Moving Average. Analysts believe the price could hit $2.60, with even higher targets like $2.72 or $2.80 on the horizon. However, XRP must stay above $2.42 to avoid a potential pullback.
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Bullish Pattern Signals $4 XRP Target
Market analysts, including World of Charts, predict a 60% rally for XRP, potentially pushing the price to $4 in the short term, according to Cointelegraph. This bullish outlook comes from a breakout of a symmetrical triangle pattern on XRP’s chart, which often signals continuation. Maintaining this momentum is crucial, as a drop below $2.37 could invalidate the breakout scenario.
Ripple Gains Legal Edge over SEC
Ripple recently scored a small victory in its legal battle with the U.S. Securities and Exchange Commission (SEC). On January 11, a federal judge allowed Ripple to seal sensitive documents related to its summary judgment motion, fueling investor optimism. As SEC leadership changes loom, with Paul Atkins expected to succeed Gary Gensler, legal experts believe a more crypto-friendly stance may emerge, potentially reducing regulatory uncertainty for XRP.
At the time of writing, XRP is sitting at $2.5818.
