Ripple has announced significant progress in its legal battle with the SEC, opening up new prospects for XRP, including a potential IPO and the launch of an ETF in the US.
From Victory to Better Future
Following the US presidential elections, the outlook for Ripple has improved significantly. Their token, XRP, was mentioned by the new president as part of a strategic reserve, and the SEC is considering its classification as a commodity. Recently, the company's CEO, Brad Garlinghouse, declared victory in the court case against the SEC. These developments could pave the way for the approval of an XRP ETF.
XRP Price Forecasts
Following the elections, XRP's price surged significantly but failed to match its 2018 peak despite all the positive news, resulting in a 30% decline. This indicates a classic 'sell-the-news' scenario.
Potential Risks for Investors
Analyst Ali Martinez predicts a significant decline for XRP due to a head-and-shoulders pattern, suggesting a potential correction of up to 50%. If this scenario unfolds, the asset's price could drop to $1.25.
Despite the courtroom victory and the potential for new strategic developments, analyst warnings should not be overlooked. Investors should exercise caution when assessing XRP's future prospects.
