- XRP shows recovery with a 4% 24-hour and 8% weekly gain, currently trading at $0.6498.
- Historically favorable April for XRP, with expectations of up to 30% upside based on past performance.
If you are wondering, how the market will behave with respect to Ripple and XRP, we will discuss below a detailed view on the immediate and medium-term future of Ripple (XRP), highlighting several key aspects that could influence its market performance:
Recovery and expectations for April
XRP has seen a 4% increase in the last 24 hours and an 8% increase in the last week, trading at $0.6498. Historically, April has been a favorable month for XRP, with average monthly returns of 31%, fueling expectations of an increase of up to 30% for the coming month.
Short- and long-term price forecasts
In the short term, it is anticipated that XRP could overcome the $0.6462 resistance, with potential to reach $0.7442 and then $0.8455 towards the end of the year. For the period between late 2024 and early 2025, in a bullish scenario, XRP could surpass the $1 threshold, targeting a range of $1.30 to $1.50.
Related: BTC’s path to surpass gold’s market capitalization
Legal challenges and selling pressure
The ongoing litigation between Ripple and the SEC, especially with the possibility of a $2 billion fine, along with the warning about potential large XRP holders that could exert selling pressure on the price, as Jed McCaleb did, are crucial factors that could negatively affect XRP’s value in the near future.
In the latest chapter of the legal dispute between Ripple Labs and the SEC, the commission’s stance has been denounced by Ripple’s Stuart Alderoty and Brad Garlinghouse as an attempt to punish and intimidate rather than adhere to legal regulations.
💼 Attorney Fred Rispoli reveals insights into #Ripple's XRP pricing mystery amidst SEC lawsuit! Allegations of discounted institutional sales spark controversy. Will transparency prevail or will XRP investors bear the brunt? Ripple's next move holds the key! #SEC #Crypto #XRP… pic.twitter.com/gQXXYdrg0V
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) March 26, 2024
The SEC’s request for a $2 billion fine, described by Garlinghouse as unprecedented in the absence of fraud allegations, underscores the growing tension. Meanwhile, Fred Rispoli’s analysis suggests a 40% chance of a decisive turn in the case, pointing to an outcome that could range from a favorable settlement to a protracted legal dispute.
You can also read: Ripple faces $2 billion SEC fine: cryptocurrency firm vows to fight “misleading” allegations
These points reflect a mixed market for XRP, balancing optimism based on historical trends and the potential impact of Bitcoin halving, against legal uncertainties and selling pressure that could influence its market valuation.
