Ripple vs. SEC: Is XRP Finally Ready for a Major Breakout?
XRP Poised for Rally as SEC Shifts Focus
XRP dropped 3% early Thursday as speculation grows that the SEC’s case against Ripple is nearing its end. The agency is restructuring under acting Chair Mark Uyeda, reducing its Crypto and Cyber Unit and reassigning top crypto litigators, including Jorge Tenreiro, to the IT department. With these changes, an appeal against Ripple seems unlikely.
SEC Reshuffle Signals a Shift
The SEC’s restructuring follows the departure of former Chair Gary Gensler, who led a strict regulatory approach against crypto. Meanwhile, SEC Commissioner Hester Peirce, now leading the new Crypto Task Force, is reviewing which crypto assets qualify as securities. If XRP is not classified as one, the SEC’s appeal against Judge Torres’s ruling could be dropped.
XRP Price Outlook: A Rally to $4.00?
XRP has seen $11.68 million in futures liquidations in the past 24 hours. It’s trading within a descending broadening wedge—a bullish pattern that could lead to a breakout. If XRP holds its lower boundary and surpasses resistance at $2.72, $2.95, $3.40, and $3.55, it could surge to $4.00.
Key technical indicators (RSI, Stoch, and MACD) are currently bearish, but a move above neutral levels would confirm bullish momentum. If XRP fails to hold support, it may drop to $1.35. Watch for a breakout from the wedge’s upper boundary for confirmation of the next major rally.
