Analysis proposed by Bitget Research
After peaking at $2.84 on December 3rd, XRP has experienced a slight pullback to $2.17 on December 10th, representing a 20% decline over the past week. Despite this recent dip, the overall monthly trend remains bullish, with XRP gaining over 300% in value.
These variations underscore the critical influence of the ongoing SEC lawsuit on its price dynamics. Any positive developments in the case, such as the withdrawal of charges or a settlement, could trigger a notable price surge.
Recent discussions about the resignation of SEC Chair Gary Gensler could bring positive market sentiment, as his departure could reduce regulatory pressure on XRP.
From a technical standpoint, XRP has exhibited bullish momentum by surpassing key resistance levels, including a breakout above the Ichimoku Cloud. Patterns such as the cup-and-handle formation and bullish divergences point to a potential continued upward trajectory, as highlighted by market analysts.
Ripple's introduction of RLUSD, a stablecoin on the XRP Ledger, could further strengthen XRP's utility and liquidity. By increasing transaction volumes and demand for XRP, RLUSD may play a pivotal role in supporting price growth. Additionally, Ripple's ongoing adoption for cross-border payments continues to bolster market sentiment.
Looking ahead to 2025, XRP’s price projections range broadly, with an average forecast between $1.8 and $8.4, and some optimistic scenarios with positive regulatory outcomes suggesting peaks above $10.
This outlook hinges on several key factors. A resolution to the SEC lawsuit would provide much-needed regulatory clarity, potentially driving significant price appreciation.
Increased adoption by financial institutions through Ripple's partnerships, coupled with technological advancements on the XRP Ledger, could further boost demand. Additionally, broader market trends, such as the post-Bitcoin halving sentiment, could influence XRP's performance. However, continued regulatory uncertainty or a market downturn could lead to price stagnation or decline.
That said, it is important to keep an eye on broader crypto market trends, particularly Bitcoin's performance, as they remain significant factors influencing XRP's price trajectory.
