XRP Price Prediction: Can the Token Recover From SEC Appeal and Surge 4,200%?

The XRP token has experienced a significant decline this month, shedding nearly 15% of its value. The primary catalyst for this drop is the SEC’s recent appeal

The price of XRP has dropped significantly this month, losing almost 15% of its value. This decline is primarily attributed to the recent development in the ongoing Ripple lawsuit, where the SEC has filed an appeal against the court's decision.

According to the BNC XRP Liquid Index, the XRP token has experienced a downturn, presenting a potential buying opportunity. Historical price patterns and recent whale activity suggest the possibility of a future XRP price surge. However, the SEC's appeal remains a significant obstacle to bullish scenarios, especially if the court rules that secondary XRP sales to retail investors in the US are illegal.

Meanwhile, Ripple is reportedly considering a cross-appeal, with Chief Legal Officer Stuart Alderoty expressing that the SEC's case against the company has been “wrongheaded from the beginning.” This sentiment is shared by Ripple CEO Brad Garlinghouse, who questions the SEC's continued pursuit of the case, arguing that it has damaged the agency's credibility and failed to protect investors.

A technical analysis of XRP's monthly price chart reveals the formation of a symmetrical triangle pattern, a structure that has preceded major price movements in the past. If XRP follows historical trends, a breakout from this triangle could lead to substantial gains.

Based on the analysis, a potential upside target for XRP is $23.40, which would represent an incredible 4,200% increase. This breakout could occur around June 2025 if the price manages to break above the upper trendline of the triangle.

On the other hand, if the bearish pressure continues, XRP could fall below the lower trendline and its 50-month EMA, which currently coincides around $0.52, leading to further declines.

In other developments, a massive movement of nearly 250 million XRP tokens off exchanges by anonymous whales has raised attention. This occurrence coincides with growing skepticism from XRP critics, such as Bitcoin maximalist Max Keiser, who dismisses the possibility of an XRP rally. Veteran trader Peter Brandt has even predicted XRP's price to drop to zero against Bitcoin based on a long-term head-and-shoulders pattern.

Despite the negative sentiment, there are glimmers of hope. Bitwise, a leading cryptocurrency index fund manager, has applied for an XRP ETF, making them the first firm to do so. However, this news did not trigger a price rally, possibly due to the SEC's appeal.

Currently, XRP is trading around $0.53, which is below the crucial 200-day EMA and approaching a critical support level. If this support breaks, the token could fall to the $0.48-$0.49 range, indicating further downside risk.

The coming months will be crucial for XRP as the market awaits the outcome of the SEC's appeal and observes whether the token can overcome the current negative sentiment and capitalize on its long-term breakout potential.

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