XRP’s Familiar Pattern: Could a 156% Rally Be Brewing?
According to crypto market analyst Degen Profit, XRP is tracing a chart that’s eerily reminiscent of its 2024 trajectory, which is initial weakness followed by a sharp breakout in July.
This mirrored movement has sparked speculative excitement, with Degen Profit eyeing a dramatic 156% rally, potentially targeting a price as high as $7, provided XRP can firmly hold above the $2.95 support level.
XRP is presently trading at $3.33, representing a 10.8% increase in the past 24 hours, having broken key resistance at $2.97–$3.10. A bullish flag pattern now points to potential upside targets between $8 and $15.
Technical indicators reinforce this optimism. Price action is contained within a symmetrical triangle, testing the upper trendline, while XRP has crossed back above its 20- and 50‑period exponential moving averages (EMAs). Coupled with expanding Bollinger Bands and bullish momentum readings, a breakout looks increasingly plausible.
In this context, Degen Profit’s 156% rally scenario to $7 is bold yet not completely out of sight, provided XRP maintains strong support above $2.95, holds its breakout structure, and overall market sentiment stays bullish.
SEC and Ripple Officially Wrap Up Legal Saga
After nearly five years of courtroom drama, the XRP Army is celebrating in full force.
Yesterday, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs jointly filed a Stipulation of Dismissal with the Second Circuit Court of Appeals, formally ending their appeals and bringing one of crypto’s longest-running battles to a close.
This dismissal cements the 2023 district court ruling by Judge Analisa Torres, which held that XRP sales on public exchanges do not constitute securities, while those to institutional investors did, resulting in a $125 million penalty and an injunction With both sides withdrawing, the penalty stands and the litigation is finally over.
XRP holders were quick to react. Within hours, the token surged across markets, posting gains from 5% to over 13%, reaching highs of $3.36 as excitement rippled through the community.
The XRP Army likened the moment to a space launch, “to the moon” with this phrase reverberating across social platforms and forums.
Other declarations like “the end…and now back to business” and “the case is over” captured the sentiment that the long-overdue closure brings much-welcomed clarity on the Ripple vs SEC case.
On Reddit, one influencer humorously declared, “I sold everything… the house, the kids, the PlayStation… we’re going to the moon, boys!”
Crypto media and analysts see this moment as more than market euphoria. The finality of the case provides regulatory clarity, potentially clearing the path for XRP-based financial products, including spot ETFs, and solidifying the 2023 ruling as legal precedent.
Ripple’s C‑suite was equally upbeat—Chief Legal Officer Stuart Alderoty summed it up on X, formerly Twitter, “The end … and now back to business.”
Top lawyer Bill Morgan accurately predicted the Ripple vs. SEC case would be dismissed before August 15, and it’s now official.
Conclusion
For the XRP Army, the dismissal feels like vindication and validation. This legal closure not only removes a major cloud hanging over Ripple and XRP but also reignites dreams of widespread adoption and institutional embrace.
As the community chants “onward and upward,” the skies and crypto charts may just be the limit with the path to $7 being seemingly likely.
