Ripple (XRP) is one of the trending cryptocurrencies recently with its price moves after the big XRP news today on whale activity, and Ripple SEC lawsuit updates. With the XRP price currently trading at $1.43 -an 8% increase in the past 24 hours- what can we expect when it comes to an XRP price prediction in light of this XRP news today?
XRP Accumulation by BIG Guys
According to recent data from Santiment, whales in the range of 1 million and 10 million XRP have rapidly accumulated 50 million tokens over the last two days, indicating a strong move in the ranks of active XRP investors. Their combined holdings now make up about 4.29 billion XRP, worth roughly $6 billion.
Angel investor, Armando Pantoja noted on the accumulation as a strategic play, suggesting that these whales “know something” That hypothesis is supported by historical trends, and previous whale-buying sprees have been followed by massive price surges, including the XRP price rally in November that led to the $1.62 peak.
XRP prices have fallen to as low as $1.29 recently, but the whales sure are confident on the long-term potential. These moves correspond with some technical indicators analysts say could foreshadow a breakout.
Ripple SEC Updates of Lawsuit
Considering that the ongoing Ripple SEC lawsuit updates is one of the major influencers of XRP price prediction. Former CFTC Chairman Chris Giancarlo Predicts SEC Abandoning Case in Latest XRP News Today — Claims to Develop Stablecoin Algorithm for ABC With Trump Administration’s Leadership Changes
The trial court’s ruling earlier this year found that the digital asset XRP is not itself a security, although that holding did classify institutional sales as being security transactions. Ripple and the SEC both appealed the decision, with the SEC’s appeal brief due to be filed in January 2025.
If the SEC ends up appointing a pro-crypto chairperson, as some believe it will, the case may end in dismissal or settlement. Legal clarity would be a bullish outcome for XRP as it removes a massive overhang on the asset.
XRP Price Prediction: What to Expect?
Recent XRP price movements indicate both challenges and opportunities.
MACD shows fading bullish momentum, suggesting caution near resistance.
The RSI on the longer term is neutral, signaling movements in both directions.
Complete Whale action plus bullish tech and outlook goes well.
XRP price is consolidating and strong support is set near the $1.43 region, the market analysts predict an XRP potential breakout towards $1.62 and above. Along with the Ripple-SEC lawsuit updates and strong XRP whale accumulation, the XRP price path should be carefully watched.
What is XRP Potential Breakout?
- As the current XRP price huddles between levels of $1.30 and $1.45, seemingly edging towards a possibility for an XRP breakout potential, fundamentals appear supportive (or at least less unsupportive).
- Support Levels: Levels $1.30 & $1.32 give a good buffer. Further support at $1.28.
- Resistance: $1.45 (immediate), and major $1.55, $1.62
Analysts have highlighted a symmetrical triangle formation, which tends to precede explosive price action. According to an analyst known as Crypto Scofield, XRP price is approaching a breakout zone and appears to be supported by candlestick patterns such as the dragonfly doji.
On the other hand, experts’ long-term wave analyzing shows XRP price headed towards between $3.80-$4.20 for wave 5 of 3. XRP Could Be Tracing Out $8–$13 By 2025 After Macro Wave 4 Correction.
