While there are various speculations in the crypto community regarding the Ripple (XRP) case and the U.S. Securities and Exchange Commission (SEC), analysts are optimistic about the price increase of this cryptocurrency. Egrag Crypto, a top market analyst, has examined short-term and long-term paths for Ripple. He predicts price targets for this cryptocurrency between $4 to $6 in the short term and between $33 to $60 in the long term. Ripple is currently trading at $2.58 and faces a significant resistance between $2.75 to $3.00. Crossing the $3.00 level could smoothen the growth path and potentially lead to prices of $4.30 and $6.40. However, if this level is not breached, the price may retreat to the support range of $1.90 to $2.00, with a possibility of further decline to $0.90 to $1.00 if that support is lost. In the long term outlook, a wide ascending triangle pattern is observed on the chart, indicating a large bullish structure for XRP. The analyst has also introduced price levels of $8, $13, $27, and $67 as potential targets. To achieve these prices, XRP must surpass closer resistances and have substantial trading volume. Breaking the $3.00 level can confirm the upward trend. Jeremy Hogan, Ripple’s lawyer, has forecasted that the resolution of the case between SEC and Ripple will take place before the approval of its Exchange-Traded Fund (ETF). Hogan also stated that this lawsuit is likely to be settled in April or early May. It is worth mentioning that the recent resolution of the Coinbase and SEC case has reinforced the community’s optimism about the possible withdrawal of the XRP complaint.
