Could XRP Hit $5 in 2024? Ripple’s SEC Lawsuit Outcome May Hold the Key
So far in 2024, the XRP price has lagged behind, primarily due to Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission. While Bitcoin and most major altcoins have surged to new highs, XRP has remained stagnant, showing no clear momentum from either buyers or sellers. However, as the lawsuit nears its conclusion and optimism grows around XRP’s market prospects, there could be a significant shift in its price trajectory.
In theory, the chart pattern is known to carry a notable period of uncertain lateral trend to rebuild its momentum. The XRP price is currently at $0.52 and has been hovering above the lower trendline of the triangle pattern.
A potential breakout from the pattern’s overhead trendline will signal a change in market sentiment from selling on bounces to buying on dips.
If the pattern holds true, the post-breakout rally could chase the initiation target of $2, followed by $10.
In theory, the chart pattern is known to carry a notable period of uncertain lateral trend to rebuild its momentum. The XRP price is currently at $0.52 and has been hovering above the lower trendline of the triangle pattern.
A potential breakout from the pattern’s overhead trendline will signal a change in market sentiment from selling on bounces to buying on dips.
If the pattern holds true, the post-breakout rally could chase the initiation target of $2,
