This is when the bullfight comes (analyst)

TL;DR

XRP briefly touched $0.60, but lags many other cryptocurrencies in terms of weekly gains. However, analysts believe that it can experience a significant rebound under some important conditions. Is it XRP’s time to shine?

Ripple’s XRP witnessed a solid resurgence last week, with the price jumping 14% and briefly above $0.60. However, it pulled back slightly in the last 24 hours to the current $0.585.

XRP Price, Source: CoinGecko

Although XRP is in the green zone on a weekly basis, its gains are much less substantial than those of other leading cryptocurrencies. Recall that Bitcoin (BTC) hit a new ATH of over $84,000 today (November 11), Cardano (ADA) exploded 80% in the past seven days, and Dogecoin (DOGE) hit a three-year high of $0.31

However, several analysts remain optimistic that Ripple’s native token has yet to make headlines. One person who spoke on the matter was user X LEB CRYPTO. The trader predicted that XRP “may fully ship” once Ethereum (ETH) and Solana (SOL) “cool down.”

It is worth noting that ETH had lost steam in the last 24 hours, with its price falling below $3,200. However, it is back up to $3,250 as of this writing. SOL continues to pump and is currently worth around $220 (after posting a 5% daily increase).

For its part, Dark Defender pointed to XRP’s brief rise to $0.60, claiming it is poised to break the “Diablo” resistance zone at $0.6655. CRYPTOWZRD said “we need more optimism from XRP/BTC to expect a further bullish move towards $0.65”.

“XRP/BTC needs to break above the resistance target area of ​​0.000007850 BTC, a successful bullish break of this resistance will provide a bullish boost which will help XRP to be bullish on it.

XRP should see a quick rise towards $0.6500 and $0.5500 will be the main daily support target for now. Both Bitcoin and XRP/BTC will lead the next move,” they concluded.

The Ripple v. SEC case remains a stumbling block

One potential factor putting the pauses on XRP is the ongoing lawsuit between Ripple and the US SEC. It dates back to December 2020, when the regulator accused the company and some of its executives of illegally raising more than $1.3 billion in an unregistered securities offering by selling its native token.

The case underwent numerous developments in the following years. Last month, the SEC appealed a 2023 verdict handed down by Judge Torres. The move is likely to delay the final resolution for several more years.

Conversely, an official end could come sooner than expected if Donald Trump follows through on his promise and fires SEC Chairman Gary Gensler. At least, that’s what US attorneys Jeremy Hogan and Fred Rispoli believe.

The former believes the regulator’s new regime could dismiss all non-fraudulent crypto lawsuits filed over the years. He argued that the Ripple case could be officially settled for the previously ruled amount of $125 million.

Rispoli claimed that Trump’s election could lead to “extreme changes” at the SEC. He also assumed that the $125 million fine could end the long legal battle.

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