The Ripple (XRP) holder community is awaiting finalization of the high-profile Ripple vs. U.S. Securities and Exchange Commission (SEC), but crypto analysts believe this waiting period could take a toll on XRP’s price.
To illustrate, lawyer Bill Morgan tweeted to his audience a feeling of “continuing uncertainty about the end or continuation of SEC v Ripple appeal (that) will eventually increasingly exert a negative pressure on XRP price”.
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On the other hand, FOX Journalist Eleanor Terrett believes the uncertainty around the Ripple vs. The SEC case is coming to an end, as both sides are keen to wrap it up and renew collaboration on setting up clearer regulatory surroundings for the digital asset class.
Meanwhile, the $135 billion-worth third crypto by global market cap was just hovering around $2.50, bouncing off smoothly from the lower-tier Bollinger Band (BOLL), depicted in green color in the price chart below. Now, the current XRP price at $2.50 offers a key support zone, as crypto bulls are back in control.
XRP Bulls Securing The Way To $3?
As per Bull Bear Power (BBP) metric, the distance between the altcoin’s buyers and sells is very close, with 0.05 slightly to the bullish side, according to TradingView. In the short-term, a key Ripple (XRP) price level for investors to watch out for is the middle Bollinger Band (BOLL), pictured in blue.
Currently breaking past $2.50, XRP price is tackling the $2.3223 middle tier, while a cross above the red line, known as the Top Bollinger Band (t-BOLL) could pave the way for XRP bulls to retest $3, in a similar way to March 3, 2025.
A few weeks ago, the XRP price bull run halted at $2.94, only to find its floor above $2 on March 11, 2025. This support level for XRP bulls turned out handy in February, when a similar setup took Ripple (XRP) to $2.74 as a monthly high.
Additionally, other key on-chain metrics suggested conflicting results, such as the Stochastic Relative Strength (StochRSI) index, often deemed as the more precise RSI version. Hovering between 67.73 to 77.73, this metric indicates a phasing-in overbought condition on the 4-hour XRP price charts.
On The Flipside
- New adoption cases, such as approved for trade XRP ETF applications on the exchange-traded fund (ETF) markets, could rapidly boost the OG altcoin’s price.
- Ripple (XRP) is currently featured in 11 applications from various crypto conglomerates and hedge funds, seeking to pioneer the altcoin ETF market.
Why This Matters
The high-profile nature of the case between Ripple & The SEC brings the topic of crypto regulation as a priority as it evokes short & long-term effects on the crypto markets.
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