As Ripple wins significant scores against the SEC, XRP, the seventh largest cryptocurrency by market cap, has shown some astonishing gains in November.
Having passed the $1 mark and now trading at around $2 for the first time since 2018 epic spike, XRP is now poised to climb $10 target, while the XRP community is expecting at least double-digit gains next year.
How will the XRP price move in 2025?
Ripple’s stablecoin: RLUSD versus USDT
The New York Department of Financial Services (NYDFS) is reportedly close to approving a new stablecoin issued by Ripple, known as RLUSD, according to FOX Business.Ripple is preparing for a possible launch on Dec. 4, pending approval.
Ripple's XRP surged 20% during the Thanksgiving weekend, building on a 200% rise since October and solidifying its position as the fifth-largest cryptocurrency by market capitalization at $108 billion.
If granted, Ripple will be authorized to offer RLUSD to the public, marking a significant step into New York's regulated digital finance market and strengthening its position within the stablecoin ecosystem. RLUSD will provide a U.S.-regulated alternative to Tether’s $130 billion USDT, which dominates the stablecoin market.
Ripple's business revolves around RippleNet, its blockchain-based global payments network, which offers faster and more cost-effective cross-border payment solutions compared to SWIFT.
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XRP facilitates these transactions but remains entangled in a legal battle with the SEC, which alleges XRP is an unregistered security. With the case now in the appeals process, some speculate it could be dropped in 2025, potentially creating a clearer path forward for XRP.
Ripple's move comes amid increased competition, with companies like PayPal also developing stablecoins to capitalize on this lucrative sector.
In this regard, XRP's price resurgence marks a significant turnaround after years of underperformance due to its legal battle with the U.S. SEC. Ripple's potential entry into the stablecoin market could further bolster its growth, signaling heightened confidence in its future prospects.
Ripple v. SEC: Next bull run?
The U.S. Court of Appeals for the Second Circuit has directed the SEC to file its last arguments by Jan. 15, after which the court will assess motions to either dismiss or proceed with portions of the case.
The SEC filed suit against Ripple in December 2020, alleging that Ripple’s sale of XRP constituted an unregistered securities offering. Ripple, however, contends that XRP should be classified as a digital currency, not a security.
This classification is crucial, as a ruling against Ripple could set a regulatory precedent for other cryptocurrencies, potentially reshaping the legal environment for the entire crypto sector.
#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has requested that the deadline for filing its principal brief be January 15, 2025. pic.twitter.com/GP13onXwb5
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 24, 2024
This deadline follows prolonged exchanges and disputes over XRP’s legal status and the SEC’s enforcement role in the crypto space. Ripple’s defense has argued that the SEC’s approach lacks clarity and that XRP doesn’t meet the standard definition of a security.
In a recent Fox Business interview, former CFTC Chairman Chris Giancarlo predicted that the SEC might drop its case against Ripple. When asked by reporter Charles Gasparino about the possibility, Giancarlo stated, "I would bet they would." This follows the SEC's notice of appeal in the ongoing case, alongside Ripple's cross-appeal.
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Optimism is growing in the crypto sector as current SEC Chair Gary Gensler prepares to step down in January. Many anticipate his successor will adopt a more favorable stance toward digital assets.
XRP price history: Major breakout in 2025?
Between 2012 and 2018, XRP underwent dramatic price changes. Initially valued at less than $0.01 in 2012, it saw minimal activity until Ripple Labs began forging partnerships with financial institutions between 2014 and 2016, though prices remained under $0.01.
The 2017 cryptocurrency boom marked a turning point, with XRP surging from $0.006 to over $1.00 by December, driven by growing interest in Ripple’s technology and speculative trading. In January 2018, XRP hit its all-time high of $3.84 during peak market enthusiasm.
However, the broader market crash that year saw XRP’s value plummet to $0.60 by February and stabilize around $0.30-$0.40 by year-end. This period underscored XRP’s growth and vulnerability to market trends and speculation.
XRP experienced a significant price surge in 2021, but its momentum waned throughout 2022. By Nov. 30, 2024, XRP was trading at $1.94 per token.
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Unlike Ethereum, which consistently achieved new all-time highs, XRP lagged behind. Its price spikes occurred later than most other cryptocurrencies, peaking in early 2021 instead of late 2020.
The delay was largely attributed to the U.S. SEC's legal complaint against Ripple in November 2020, which caused XRP's price to drop sharply from $0.70 to $0.20, creating uncertainty around the token's future.
Bitcoin versus XRP: Advantages of XRP Ledger (XRPL)
XRPL is a decentralized public blockchain enabling quick transfers of XRP, fiat currencies and digital assets, open to all for development.
Jed McCaleb, along with Arthur Britto and David Schwartz, established Ripple Labs in 2012 with the vision of creating XRP Ledger (XRPL).
This initiative aimed to develop a robust ledger technology capable of supporting not only the native digital asset, XRP, but also serving as a global payment infrastructure.
Ripple Labs aimed to tackle the inefficiencies and delays inherent in traditional financial systems by introducing a decentralized ledger capable of settling transactions in seconds.
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This represented a significant departure from Bitcoin's proof-of-work model, as XRPL implemented a unique consensus mechanism known as the "XRP Ledger Consensus Protocol".
Ripple Labs introduced XRPL to address traditional financial system inefficiencies, utilizing the XRP Ledger Consensus Protocol instead of Bitcoin's proof of work. This protocol ensures transaction order and validity without energy-intensive mining.
BenefitsXRPBitcoinFast3-5 seconds to settle500 seconds to settleLow-Cost$0.0002/tx$0.50/txScalable1,500 tx per second3 tx per second
The Ripple Protocol Consensus Algorithm (RPCA) underpins XRPL, determining valid transactions collaboratively among validators. Unlike Bitcoin's PoW, RPCA is eco-friendly and fosters faster transaction confirmation.
Validators, a subset of nodes, validate transactions to prevent fraud in XRP Ledger. Nodes maintain ledger copies, ensuring decentralization and network integrity. This structure enables secure, rapid transactions on XRPL.
XRP Ledger (XRP) prioritizes scalability and rapid transaction settlement, capable of processing a significant volume of transactions per second. With its ability to finalize transactions within seconds, the ledger is well-suited for diverse applications requiring fast and efficient transaction execution.
XRP ETFs on the way?
The potential resignation of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has sparked speculation about his successor, with Dan Gallagher, Robinhood's chief legal officer, emerging as a top contender.
Gensler's tenure has been marked by a complex relationship with the cryptocurrency industry, balancing enforcement actions with pivotal approvals for crypto-based financial products.
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Notably, under Gensler's leadership, the SEC approved multiple Bitcoin ETFs, a decision that hinged on his deciding vote. Commissioners Jaime Lizárraga and Caroline Crenshaw opposed the approvals, while Gensler sided with Mark Uyeda and Hester Peirce, two Republican commissioners.
This bipartisan alignment was a significant move in the crypto regulatory landscape. In another unexpected decision, Gensler approved spot Ethereum ETFs, which began trading in July 2023.
Looking ahead, the SEC faces additional crypto ETF proposals. VanEck filed for a Solana ETF in July, marking a first for the asset, while other issuers are seeking approval for a spot XRP ETF.
During a recent appearance on Bloomberg, Ripple CEO Brad Garlinghouse confidently stated that the introduction of an XRP ETF was "just inevitable."
Ripple IPO
In 2022, Ripple CEO Brad Garlinghouse stated that the company would consider exploring an initial public offering (IPO) once the SEC lawsuit concludes. He has consistently expressed a vision of Ripple becoming a public company, even predicting in early 2020 that an IPO would happen within a year. However, those plans were derailed by the SEC’s lawsuit, delaying the company’s public debut.
SBI Holdings CEO Yoshitaka Kitao has suggested that Ripple should prepare for an initial public offering (IPO) once its legal challenges with the U.S. Securities and Exchange Commission (SEC) are resolved.
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The SEC recently filed a notice of appeal in its case against Ripple, prolonging the dispute. However, speculation is growing that the SEC may drop its appeal, especially amid potential changes in its leadership.
Currently, Ripple appears to be adopting a cautious stance on its IPO ambitions, awaiting the resolution of its legal challenges before committing to a timeline. Despite the delays, the possibility of an IPO remains part of Ripple's long-term vision.
Howhigh can XRP price go?
On Nov. 16, the XRP price reached $1 for the first time since 2021. In addition, the market cap has surged 26.76% to $57.98 billion, while the trading volume has reached $13.13 billion.
CryptoQuant has recently highlighted a major spike in XRP open interest. According to the data, XRP OP has reached ATH.
Open interest (OI) measures the total number of outstanding futures or options contracts, reflecting money invested in derivatives. In crypto markets, rising OI indicates increasing market activity and can signal bullish sentiment if prices rise, while falling OI may suggest bearish sentiment or declining interest.
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According to CryptoQuant, XRP's Open Interest (OI) has surged to historic highs, reflecting growing confidence in the token amid significant political and market developments. Key drivers of this increase include:
Gary Gensler's SEC Departure: News of SEC Chair Gary Gensler stepping down in 2025 has fueled optimism for a more crypto-friendly regulatory environment, benefiting XRP.Political Shifts: Donald Trump’s recent election victory has bolstered market sentiment, with expectations of favorable policies for the cryptocurrency sector driving increased interest in XRP.XRP ETF Speculation: Applications for an XRP ETF by major asset managers, combined with speculation that Gensler’s departure could improve approval prospects, have attracted heightened institutional interest in the token.
XRP’s daily relative strength index (RSI) has remained above 70 throughout November, suggesting its current uptrend might be overextended. Historically, XRP tends to undergo sharp corrections after hitting overbought RSI levels.
In June 2023, XRP’s RSI exceeded 85 during a rally to $0.82, followed by a 46.5% drop to $0.43 within two months. A similar pattern occurred in November 2023, when XRP's RSI spiked above 70, triggering a 33.6% decline from $0.65 to $0.43 in the following weeks. These trends indicate a potential vulnerability to overbought conditions.
If historical fractals hold, XRP could aim to retest its 2018 peak of $3.41, with a longer-term projection targeting the 4.236 Fibonacci level around $13.93. Fundamentals further bolster the case for a sustained bull run, aligning with the technical outlook.g
Crypto analyst Egrag Crypto highlighted historical trends suggesting XRP could experience significant gains. On the two-week price chart, he noted that when the 21 EMA crossed above the 55 EMA in 2017, XRP surged by approximately 902.85%, rising from $0.007 to $0.0646. A similar pattern appears to be forming now.
Based on this setup, EGRAG CRYPTO outlined two potential targets: a conservative projection of a 584% rise to $4 and a more optimistic scenario with a 900% gain, pushing XRP to $5.5. If history repeats, XRP could be poised for a major price rally.
Another analyst Armando Pantoja recently predicted that XRP's next price target lies between $2 and $2.10. This projection follows his observation that XRP has been breaking through resistance levels and is now heading toward the 0.786 Fibonacci retracement level at $1.61.
$XRP smashing through resistance and heading for the 0.786 Fib at $1.61.Next stop? $2-$2.10, the last time we saw that price was 4/21. After that? Easy path to $8 🚀📈 #XRP pic.twitter.com/a2zd5loOUk
— Armando Pantoja (@_TallGuyTycoon) November 22, 2024
Pantoja further suggested that reaching $2 could pave an "easy path" for XRP to climb as high as $8, indicating a potential continuation of its bullish momentum if market conditions remain favorable.
Fibonacci extension levels, a commonly used tool in technical analysis, suggest that XRP could reach up to $18 or $20 in the current market cycle.
Some analysts, however, remain skeptical. Renowned commodity trader Peter Brandt predicted that XRP, the cryptocurrency linked to Ripple, could plunge to zero against Bitcoin.
This is an X post that many will screenshot and remind me of often for years to comeDoes everyone know that Ripple actually is formal name for "RIP PPL OFF " $XRPBTCChart has an 11-year complex H&S that ONLY IF completed projects price to ZERO BitcoinGood news for the day! pic.twitter.com/KGodcqUn64
— Peter Brandt (@PeterLBrandt) October 3, 2024
His bearish outlook is based on an 11-year head-and-shoulders (H&S) chart pattern, which he interprets as signaling a significant long-term decline.
Meanwhile, Brandt has recently suggested that XRP’s price is set for a significant uptick in 2025. He says a "massive coil" has been identified on XRP’s technical chart pattern.
This makes XRP price flight towards $10 a reality. The Bollinger Bands also suggest the upstick in December and January.
XRP's recent price movements were preceded by the maximum compression of its Bollinger Bands, signaling potential volatility. Previously, similar compression led to a significant price surge.
Now, the bands have widened, but XRP's price remains below the upper curve and has been declining for three consecutive days amidst recent market disturbances. This suggests a cooling phase or consolidation after earlier volatility, often seen before the next major move.
