A top market commentator has predicted a significant price movement for XRP in the coming days.
Specifically, XRP influencer Zach Rector shared the bullish sentiment in a recent tweet amid ongoing consolidation around $2. XRP has been trending around the lower range of the $2 price mark for the majority of the last five months, as altcoins continue to lag behind Bitcoin’s bullishness.
XRP Begins New Wave of Bullishness
Meanwhile, Rector suggested that this consolidatory momentum is on the cusp of a quick turnaround. He highlighted that XRP has just resumed the third wave of a meteoric price uptrend, poised to catapult it to new all-time highs.
For context, XRP rallied 480% from $0.50 in November 2024 to a high of $2.90 in December 2024 before retracing to close at $2.08. The second bullish wave resumed in January, as it defied all bearish odds to hit a seven-year high of $3.40, recording its highest ever monthly close in history.
Now, the pundit has suggested that another wave has begun, this time fueled by the prospect of the Ripple vs. SEC case. He asserted that XRP would continue to climb from here to unprecedented prices, sparking FOMO among retail investors.
Update on the Ripple vs SEC Case
Ripple CEO Brad Garlinghouse raised optimism within the XRP community when he announced last week that Ripple and the U.S. SEC will drop their respective appeals. This signals the end of their years-long legal standoff.
Interestingly, this came after Judge Analisa Torres denied a joint motion to modify her final ruling on the case. In clear words, she prompted both Ripple and the SEC to either proceed with their appeals or withdraw them and stick to her final judgment
Although neither party has officially dropped its appeal, Garlinghouse’s comments excited the XRP community.
New ATH for XRP in 30-45 days
Meanwhile, Zector is already buttressing the impact of the case drop on XRP, arguing that some still are yet to recognize that the case is over. He suggested that the development would spur a price shift to a new all-time high for XRP in the next 30 to 45 days.
At the current market price, XRP trades at $2.18, down 35.8% from its January high of $3.40 and 43% from its all-time high of $3.84. Hence, XRP would need to rally 56% to reclaim its yearly high and 76% to reach its current ATH.
It also has to do so in the next 43 days to bring Zector’s projection to fruition. Specifically, this culminates in an August 12 timeline.
Nonetheless, there are higher price expectations for XRP, with analysis from EGRAG suggesting that a rally to $17.5 is on the cards.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
