New Ripple Price Forecast After SEC Win – Can XRP Hold 3rd Place and Break to New Highs?

Early this morning the Ripple price surged 10% after some great SEC news, but will we see the XRP break above $3.40 soon?

After four years of legal battles, Ripple CEO Brad Garlinghouse officially announced today that the SEC case against the company has come to an end. Reflecting on the lawsuit, Garlinghouse stated, “I can finally declare that this case is over. Looking back, it was clear from the beginning that the Ripple Labs case was flawed.”

XRP Price Jumps as SEC Drops Case

The announcement comes amid reports that the SEC was considering classifying XRP as a commodity, similar to its previous stance on Ethereum, as part of ongoing settlement talks. This news triggered a strong rally in XRP, with the price surging over 10% to $2.58 before facing resistance at the 50-day SMA (yellow) on the daily chart. Despite a minor pullback, XRP managed to hold above $2.50 at the close. Now Ripple has acquired the 3d crypto position by market cap, at $146 billion. After all, we did mention in our previous post that the XRP was poised for a bullish breakout.

XRP Chart Daily – Buyers Need to break the 40 SMA First

For further upside, XRP buyers need to push the price above the key resistance at $2.60 (50 SMA). A break above this level could pave the way toward the psychological $3 mark and ultimately challenge its all-time high of $3.40. However, Ripple still faces hurdles. The company continues to contest a $125 million fine and the requirement to register institutional XRP sales as securities, even though the SEC has officially dropped its lawsuit.

Is a Ripple IPO on the Horizon?

Garlinghouse rejected reports of an impending IPO amid conjecture on Ripple’s future course of action. He explained that although an IPO might be considered in the future, it is not currently a top priority. We don’t have to, but Ripple might think about going public, he said. Unlike many businesses that rely on initial public offerings (IPOs) to raise money, Ripple has been able to grow naturally without outside funding.

With the SEC battle now behind it and regulatory clarity improving, XRP is positioned for potential long-term growth. If bullish momentum continues, the market could see XRP test new highs in the coming months.

Ripple XRP Live Chart

XRP

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.