XRP prices are in the spotlight as analysts suggest a potential surge to $4 if the breakout from a bullish flag is confirmed.
Current XRP Market Situation
Last week, XRP saw significant gains after strong performances in November and December. Since early November, XRP has risen approximately 560%, and its market capitalization has doubled, reaching $180.55 billion, making it the third largest cryptocurrency.
Expert Forecasts and Expectations
Renowned crypto analyst Ali noted, “XRP appears to have broken out of a bullish flag, suggesting an upswing to $4.” The $4 price target is based on the measured move of the flagpole added to the breakout point.
Prospects and Impact of SEC Legal Battle
Optimism around XRP is growing amid potential ETF approval in the U.S. following a long legal battle between Ripple and the SEC. On Wednesday, the SEC filed its opening brief in the appeal, but with a pro-crypto SEC chair set to take charge, the future of the appeal remains uncertain.
If XRP can maintain levels above $3.40, the current uptrend might extend to $4. However, the $2.91 level remains critical, and a break below this could lead to a reduction to $2.59.
