⚡️ Will XRP price reach $1?

XRP received a significant short-term boost after Ripple secured a key victory in its legal battle with the Securities Exchange Commission (SEC).

A judge ordered Ripple to pay a $125 million civil penalty but ruled that the company is “permanently restrained and enjoined” from violating U.S. securities laws.

Importantly, following the August 7 court decision, there are no indications that XRP will be classified as a security, suggesting the long-standing legal dispute may be ending.

Currently, $XRP is testing the upper boundary of this triangle, signaling a potential breakout to the upside. If XRP sustains this breakout, the analyst suggests the price could rise to $1.

💬 “XRP Has Formed A Textbook Multiple-Year Symmetrical Triangle, And A Successful Breakout Could Lead To A Massive Bullish Wave, Potentially Pushing The Price Towards $3-5,” the expert said.

Similarly, another trading analyst, Captain Faibik, also shared a bullish sentiment in another X post. According to the expert, investors should prepare for a possible “mega bullish rally” for XRP.

The expert’s analysis also indicated that XRP had formed a symmetrical triangle pattern on the weekly timeframe. He suggested that the asset is on the verge of breaking out from this triangle, which could trigger a significant rally.

The analysis sets a midterm target of $2.30, which. This overview also indicates a potential price trajectory that could see XRP surpass the $1 mark—a psychological milestone that has been elusive for some time.

🔸 #XRP ’s on-chain data uptick

On-chain data indicates that amid the latest case ruling, XRP has recorded a significant uptick in both price and market sentiment.

Data from Santiment particularly supports the bullish outlook for XRP. As of August 8, XRP’s market cap has surged by an impressive 23% over the past 24 hours, signaling renewed investor interest and confidence in the asset.

Large holders with 1 to 10 million XRP now hold a record 7.06 billion XRP, valued at about $4.42 billion.