XRP Price Could Surge as Ripple-SEC Case Nears Potential Settlement by End of 2024

The prolonged legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may finally conclude by the end of 2024,According to prominent attorney Jeremy Hogan, a key supporter of Ripple. With Donald Trump’s recent election victory, there is renewed optimism that the case could reach a resolution soon, especially if SEC Chair Gary Gensler steps down.

Hogan suggests that a change in SEC leadership could pave the way for a fresh approach, potentially prioritizing the closure of non-fraud crypto cases, including Ripple’s.

https://twitter.com/RobK389767/status/1855157854501540170

As president, Trump has the opportunity to appoint a more crypto-friendly SEC Chair who may be inclined toward settlement. With three Republicans currently serving as SEC commissioners, there is a strong possibility of support for this new approach. Hogan hints that the Ripple case could settle for the previously suggested $125 million, while other cases without fraud allegations, such as Coinbase’s, might even be dismissed.

How XRP Prices Could React to Case Settlement

If the Ripple-SEC case reaches a settlement, XRP prices could experience a significant boost, as regulatory clarity would likely increase market confidence and attract more institutional interest. Regulatory uncertainty has weighed heavily on XRP’s growth, and a resolution could open doors for broader adoption, encouraging financial institutions to incorporate Ripple’s technology.

#Ripple’s legal battle with the SEC hampers progress, as CEO urges clearer U.S. #crypto regulations.

Brad Garlinghouse criticizes SEC enforcement, advocating for defined rules to support crypto growth and clarity. #CryptoNewshttps://t.co/oY8cKDgxKm

— Martinray 💙 (@cryptomartinray) November 9, 2024

Hogan anticipates meaningful progress by the end of 2024, which could bring an end to prolonged legal disputes in the crypto sector. This regulatory clarity could attract more investors and institutions, potentially increasing demand for XRP. Ripple CEO Brad Garlinghouse has expressed optimism about an improved regulatory landscape, which could ultimately enhance XRP’s value and adoption in the global financial system.

XRP Technical Analysis: Key Levels to Watch

XRP is currently trading at $0.5520, maintaining a cautious uptrend as it approaches critical resistance at $0.5630. This level aligns with a descending triangle pattern that has kept XRP’s price action relatively constrained. If XRP manages to break above $0.5630, the next significant resistance level stands at $0.6030.

However, failure to breach $0.5630 could lead to a pullback, with immediate support around $0.5320. The 50-day Exponential Moving Average (EMA) at $0.5234 reinforces this support, potentially acting as a safety net for buyers.

The Relative Strength Index (RSI) is currently at 60.6, indicating moderate bullish momentum but signaling a potential flattening, which could precede a temporary price consolidation. Should XRP fail to hold the $0.5320 support, it could test the next support level at $0.4998, suggesting a broader market correction.

Key Points:

• Ripple vs. SEC Settlement: Attorney Hogan expects the Ripple case to settle by the end of 2024, potentially for $125 million.

• XRP Price Impact: Regulatory clarity could boost institutional interest, increasing demand for XRP.

• XRP Technical Outlook: XRP remains cautiously bullish, with key resistance at $0.5630 and support at $0.5320.