XRP News Today: XRP Surges 56% Monthly, Eyes $4 as Legal Battle Nears End

XRP experienced significant volatility this week, reaching an all-time high of $3.65 before retreating slightly to around $3.37. Despite this pullback, the overall market sentiment remains bullish, with many speculating whether XRP can surpass the $4 mark in the near future. An analyst noted that XRP is currently in the midst of a strong upward trend, with consolidation above the previous key high of $3.40 from January. This consolidation is seen as a positive indicator, suggesting that as long as XRP maintains this level, there is potential for further upward movement. The next targets being watched are $3.84, $4.33, and even $4.72 in the coming weeks.

The broader context also supports the bullish outlook. The protracted legal dispute between Ripple and the SEC appears to be nearing its conclusion. Ripple recently withdrew its appeal, and the crypto community is awaiting a similar move from the SEC. According to former SEC lawyer Marc Fagel, there is no unusual delay; the SEC is simply following its standard internal procedures. Once both parties finalize their paperwork, the case will officially end, with a status update expected by August 15.

With the legal uncertainty diminishing and strong technical signals in play, XRP's path to $4 seems plausible. If the SEC formally drops its appeal and the broader crypto market remains stable, XRP could potentially reach $4.50 or higher. Currently, the focus is on whether XRP can stay above the key support level of $3.20 and reach the next target of $3.84. The next few days are crucial as the market awaits further developments.

The cryptocurrency community is buzzing with anticipation about the potential price surge of XRP following the expected resolution of the legal battle between Ripple and the SEC. Analysts are optimistic, predicting that XRP could hit $4 in the near term, driven by factors such as whale accumulation and corporate treasury interest. This optimism is bolstered by the recent revelation from former SEC official Marc Fagel that Ripple has settled the monetary judgment in the XRP lawsuit, paying a $125 million fine in cash. However, the lawsuit itself remains unresolved, adding a layer of uncertainty to market expectations.

Despite the ongoing legal proceedings, some analysts believe that the resolution of the case is already reflected in the current market value of XRP. They argue that if the appeal is officially dropped, it could trigger a significant price increase. This sentiment is shared by various market participants who anticipate that the end of the legal battle could drive XRP to new heights, potentially reaching price targets of $3.80, $4.33, and even $4.72 in the coming weeks. The recent surge in XRP's price, which has seen a dramatic 56% monthly gain and breached the $3.30 mark, further supports these optimistic predictions.

The technical indicators also point to a bullish outlook for XRP. With the cryptocurrency breaking above $3.40, analysts forecast a stronger rally, with price targets at $3.80, $4.33, and $4.72. As long as XRP remains above the support level of $2.90, the upward momentum is expected to continue. This technical strength, combined with the potential resolution of the legal battle, positions XRP for a significant price surge in the near future.

However, it is crucial to note that these predictions are based on current market conditions and the anticipated outcome of the legal battle. The actual price movement of XRP will depend on various factors, including market sentiment, regulatory developments, and broader economic conditions. Investors should approach these predictions with caution and conduct their own research before making any investment decisions.