Ripple As the winding down of the legal battle between the U.S. and the SEC accelerates, XRP price action is attracting the attention of crypto analysts, with recent evaluations pointing to a potential price increase.
Analyst Mickle recently XRPHe studied the price movements of and predicts a bright future in case the Ripple-SEC case is finally concluded.
The asset is trading within a major consolidation pattern commonly seen in other cryptocurrencies, the analyst said. This model is usually cryptocurrencyIt is considered a preparatory phase before significant price movements.
According to Mickle, this consolidation is likely to end with the conclusion of the Ripple-SEC case. In similar situations in the past, investors and traders have witnessed significant price increases for XRP in response to new regulatory clarity.
In retrospect, judge Analisa Torres’ ruling that the asset was not a standalone security caused a huge surge in demand in July. This increase in demand altcoinIt caused it to rise to $0.93 on July 13.
Despite the corrections in subsequent weeks, it is clear that the previous increase showed the impact of the lawsuit decision. Experts state that in an environment where another important decision is expected, the end of the current consolidation provides further upside potential for XRP.
The installation coincides with a critical period in the broader crypto cycles, with Bitcoin and other major assets hitting all-time highs and altcoins rising. This synchronization of market behavior and asset milestones can strengthen price movements.
Mickle also pointed out Bollinger Bands, another indicator supporting the bullish trend on XRP’s weekly chart. These bands are a technical analysis tool used to measure market volatility and potential price breakouts.
Currently, XRP’s Bollinger Bands are showing a squeeze, which is often a precursor to significant price movements. Mickle points out that similar squeezes in the altcoin’s bands have led to rallies of 32,000% and 10,000% in the past.
The third indicator that Mickle highlighted in his latest analysis relates to XRP’s performance against Bitcoin. The charts show that the altcoin has historically entered a zone of exponential runs against Bitcoin; This pattern has been observed several times in the last decade.
Each entry into this zone was preceded by a period of consolidation lasting approximately 60 to 70 days, after which XRP experienced significant increases in value compared to Bitcoin.
Mickle’s comments also extended to macroeconomic factors affecting the crypto market. He discussed the impact of current high interest rates set by the Federal Reserve, which suppress risky asset investments. This trend contributed to the ongoing market crash.
Source : The Crypto Basic