XRP’s price and its trajectory have been the most debated price in the cryptocurrency community, after which it has rapidly raised its price, reaching 600% in 2024. Altcoin has since slowed down and has been impressing support at the $2 level, which the bears have been unable to break so far. With support so strong, expectation will begin a new bullish momentum, and this time, analysts have put XRP prices into double digits.
XRP price form classic bullish flag pattern
Crypto analyst Persian Blockchain makes bold predictions about XRP prices, as Altcoin sees Cormation OS as the classic Bullish Flag model. This pattern then emerged, then dropped to XRP price and continued to show more bullish signs.
An important factor pointed out by crypto analysts is that the classic bullish banner model is the continuation structure. This means that they usually mark the beginning of an upward movement, most likely pushing forward gatherings toward previous peaks.
As expected, there is still some resistance on the chart that the XRP price must be cleared. In this case, crypto analysts highlight levels like the $2.7 resistor, which is the level to beat. As they explained, if the XRP price succeeds in overtaking the resistance and then enters the buy zone, a breakthrough may be expected.
“The retest of the breakout area followed by bullish confirmation, which could indicate a bigger move towards the psychological level of $10,” the crypto analyst said. This means a shift of more than 400% from Altcoin, pushing it to a whole new all-time high.
Ripples and SEC litigation play a role
So far, the long-running Ripple vs. SEC lawsuit has played a major role in curbing XRP prices for years, and even now, continues to be vaguely visible on digital assets. Although the court’s ruling has always tended to favorable outcomes for ripples, the legal struggle has not yet reached a final conclusion.
Crypto analysts noted that the SEC’s 60-day deadline will end on June 16, which could trigger new rally if the court ruled in favor of Ripple. In addition, global liquidity has also increased, with the growth of the stock market and Bitcoin, XRP price will rise at the same time As one of the largest cryptocurrencies on the market.
The positive outcomes and final conclusions of the SEC battle will renew XRP’s confidence and may drive new investments. “Legal breakthroughs that improve the consistency of macro liquidity and bullish chart structures make this scenario worth a look,” the analyst concluded.
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