Ripple’s native cryptocurrency XRP has been showing strong price action recently with another attempt on Saturday to breach past the crucial resistance of $0.65. However, the XRP price sees some rejection there forming another base at $0.60 levels. This is the third time that cypto is seeing rejection at $0.56 within a months time, however, analysts continue to stay bullish for the Ripple cryptocurrency.
XRP Price Ready for Largest Bull Flag in History
Popular handle Good Morning Crypto on the X platform, recently shared a chart explaining how XRP is gearing up for the largest bull run ahead in the next year 2025. The analyst recalled the 2017 bull run when the price surged by a staggering 60,000% moving all the way from $0.006 to an all-time high of $3.84.
It’s been nearly 2,424 that the XRP price has been trading much below its all-time high levels, especially due to the legal battle surrounding Ripple and SEC over the past four years. However, with the lawsuit proceeding towards settlement, the current state of XRP brings major legal clarity surrounding the altcoin.
Currently, the technical analysis points to a possible 4.236 Fibonacci extension, which could see it reaching $16 in the current cycle, noted the analyst. As the crypto community buzzes with predictions, the big question remains: What will XRP’s peak price be in 2025?
However, before the mega bull rally, the XRP price first needs to cross $0.65 convincingly which would open thee gates for further rally to $1 in the near term.
ODL Could Be A Major Catalyst
Despite its legal battle with the US SEC over the past four years, Ripple has continued to push further its on-demand liquidity (ODL) solution in the international markets that involves the use of XRP as a liquidity provider for instant cross-border settlements. Many nations like Japan and some in the Middle East have benefitted from Ripple’s ODL solution.
Market analysts expect that with further clarity in the SEC lawsuit, Ripple’s ODL solution can find some ground in the US market as well. Popular X handle Mickle explains how this solution could have a strong positive impact on the price of XRP. He also explains how the US SEC won’t further appeal the XRP case following the recent $125 million settlement between the two parties.
Disclaimer
The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.
