Ripple traders await SEC lawsuit ruling, analyst sets $17 target for XRP in 2025

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• 
  Ripple
  could
  see
  the
  end
  of
  its
  lawsuit
  with
  the
  Securities
  and
  Exchange
  Commission
  soon,
  per
  recent
  reports. 
• 
  An
  analyst
  predicts
  XRP
  rally
  to
  $17
  through
  the
  Bent
  Fork
  chart,
  a
  bullish
  thesis
  for
  the
  altcoin. 
• 
  XRP
  traders
  at
  $0.44
  on
  Wednesday,
  adding
  nearly
  2%
  value
  on
  the
  day. 

Ripple
(XRP)
traders
are
awaiting
the
final
ruling
in
the
US
Securities
and
Exchange
Commission
(SEC)
lawsuit
against
the
payment
remittance
firm.
A
pro-crypto
attorney,
Fred
Rispoli,
informed
market
participants
that
a
ruling
is
likely
by
July
31
2024,
through
a
tweet
on
X. 

XRP
traders
are
awaiting
the
ruling,
a
key
market
mover
for
the
altcoin,
in
July
2024. 

Additionally,
a
crypto
analyst
behind
the
X
handle
@egragcrypto
has
analyzed
XRP
price
trend
and
set
a
$17
target
for
2025.
While
XRP
trades
at
$0.44
on
Wednesday,
July
10,
the
analyst
presents
a
Bent
Fork
chart
as
a
thesis
backing
his
prediction
for
the
altcoin.

Daily
digest
market
movers:
Ripple
traders
await
ruling
in
lawsuit,
RLUSD
launch

• The
  SEC
  alleges
  that
  
  Ripple
  sold
  unregistered
  securities
  (XRP
  tokens)
  to
  institutional
  investors
  and
  asked
  the
  court
  for
  over
  $2
  billion
  in
  penalties.
  In
  a
  development
  in
  May
  2024,
  the
  SEC
  quoted
  $102.6
  million. 
• Ripple
  filed
  a
  letter
  of
  supplemental
  authority,
  citing
  the
  Binance
  lawsuit,
  where
  Judge
  Analisa
  Torres’
  ruling
  was
  considered
  as
  precedent.
  The
  ruling
  of
  Judge
  Amy
  Berman
  Jackson
  cemented
  the
  status
  of
  XRP
  as
  not
  a
  security
  in
  secondary
  market
  sales,
  meaning
  sales
  on
  exchange
  platforms. 
• SEC
  filed
  its
  response
  to
  the
  supplemental
  authority
  letter.
  With
  both
  filings
  in,
  
  Ripple
  traders
  are
  awaiting
  a
  ruling
  in
  the
  lawsuit. 
• Pro-crypto
  attorney
  Fred
  Rispoli
  says
  the
  ruling
  is
  expected
  as
  early
  as
  Saturday,
  July
  13,
  or
  by
  July
  31,
  2024. 
• The
  lawsuit
  has
  been
  a
  key
  market
  mover
  for
  the
  altcoin
  since
  the
  legal
  battle
  commenced. 
• Alongside
  lawsuit
  developments,
  on-chain
  metrics
  have
  influenced
  XRP
  traders’
  sentiment
  and
  the
  asset’s
  price
  in
  the
  past. 
• Santiment
  data
  shows
  a
  large
  spike
  in
  active
  addresses
  in
  XRP
  on
  July
  10;
  over
  27,000
  addresses
  were
  active
  on
  the
  XRP
  Ledger.
  This
  supports
  a
  bullish
  thesis
  for
  the
  altcoin,
  signaling
  rising
  demand
  and
  relevance
  among
  market
  participants. 

XRP
Active
addresses
and
price 

• After
  consistently
  realizing
  losses
  on
  their
  XRP
  holdings
  since
  May
  30,
  traders
  realized
  $4.42
  million
  in
  gains
  on
  July
  10.
  The
  long
  period
  of
  negative
  spikes
  on
  the
  Network
  Realized
  Profit/Loss
  metric
  is
  consistent
  with
  capitulation
  among
  investors. 

XRP
Network
realized
profit/loss

Technical
analysis:
XRP
analyst
predicts
rally
to
$17
by
2025,
altcoin
extends
gains 

Analyst
behind
the
X
handle
@egragcrypto
has
predicted
a
$17
target
for
XRP
by
2025
based
on
his
Bent
Fork
chart.
This
is
a
long-term
target
for
the
altcoin
that
currently
trades
at
$0.44
on
Binance. 

The
analyst
introduced
the
chart
with
key
resistances
at
$1,
a
psychological
hurdle,
and
$3.5,
the
asset’s
all-time
high.
The
analyst
introduced
the
target
for
the
first
time
in
2023
with
four
tracks,

A)
Major
Historical
Support 

B)
Ranging
Zone 

C)
Mid-Cycle
Top 

D)
Cycle
Top

The
analyst
considers
the
track
D
is
the
one
that
the
altcoin
is
most
likely
to
reach,
with
a
slight
variation.
The
target
has
been
increased
from
$15
in
2023
to
$17
in
the
latest
update. 

XRP/USD
chart 

On
the
XRP/USDT
daily
chart,
it
is
clear
that
XRP
is
recovering
from
its
recent
downward
correction.
If
Ripple
extends
its
gains,
the
altcoin
could
add
8.45%
to
its
value
and
hit
resistance
at
$0.4760,
the
July
2
low
and
the
upper
boundary
of
the
Fair
Value
Gap
(FVG),
as
seen
in
the
chart
below.

The
Relative
Strength
Index
(RSI)
reads
39.58,
showing
Ripple’s
price
trend
has
underlying
positive
momentum. 

XRP/USDT
daily
chart 

Ripple
could
find
support
at
$0.4032,
the
July
8
low.
In
the
event
of
further
correction,
XRP
could
sweep

liquidity
at
the
July
5
low
of
$0.3823. 

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