Ripple’s cryptocurrency, XRP Coin, has recently recorded a remarkable rally, boosting the expectations of market analysts and legal experts. In particular, the positive effects of a pro-crypto regulatory environment in the U.S. have sparked greater interest in XRP among investors. Experts suggest that with this favorable market sentiment, XRP Coin could have the potential to rise by up to 470%.
Legal Experts and On-Chain Analysts “Confident” About an XRP Rally
XRP is expected to experience positive developments in the coming weeks. Ripple attorney Bill Morgan has made highly optimistic statements on the matter. Morgan expressed his agreement with recent analyses by prominent market analyst Ali Martinez. On the social media platform X, Martinez highlighted that XRP’s “SuperTrend” indicator on the 12-hour chart has flipped back to a positive signal.
Martinez noted that this indicator has been historically linked to significant price increases for XRP. He referenced a previous 470% price surge as an example. The reappearance of this signal has fostered optimism among investors about a potential major rally in XRP’s price.
Bill Morgan has voiced his support for Martinez’s analyses and mentioned that he is also expecting positive news regarding XRP in the weeks ahead. Morgan stated, “Such a strong rally, combined with the anticipated good news, paints a great picture. We are eagerly awaiting developments,” further enhancing the optimism in the market.
Trump’s Pro-Crypto Stance: Positive News for XRP Coin
As reported by Kriptokoin.com, Ripple CEO Brad Garlinghouse suggested that former President Donald Trump’s pro-crypto stance could benefit Ripple.
Ripple Gains Ground on the Legal Front
XRP is currently trading at around $2.45, reflecting a daily increase of approximately 3%. At the same time, its trading volume has surged by 14%, reaching $4.35 billion. Over the past week, XRP has gained 18%, although it remains 3% down on a monthly basis. Nevertheless, it continues to attract strong investor interest. The 7% increase in XRP’s open interest for futures contracts reflects the optimistic market sentiment.
This price increase is partly driven by expectations surrounding Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Legal experts have indicated that SEC Chair Gary Gensler is expected to present an initial statement on the XRP case by January 15. Despite this uncertainty, analysts foresee XRP maintaining strong market performance.
There is also a strong possibility of a settlement in the Ripple case under the potential leadership of future SEC Chair Paul Atkins. Such a resolution would provide XRP with the legal clarity it needs and support its upward trajectory in the market. Veteran trader Peter Brandt commented that XRP’s market cap could reach $500 billion if “half-mast flag” formations are completed within six weeks.
A Bright Future for XRP
Based on both legal and market analyses, XRP is expected to gain strong momentum in the near future. Positive outcomes in its legal proceedings are likely to make XRP even more popular among investors. This strong market trend holds great potential for driving XRP to new heights.
