XRP Price Jumps 7.8% as SEC Optimism Grows — Analysts Predict $25 Target by 2026

Andrew Chen
XRP

Getting your Trinity Audio player ready...

The global cryptocurrency market is experiencing a significant upswing, surging to a market capitalization of $2.93 trillion. This represents a robust 6.29% increase over the past 24 hours, fueled by renewed Optimism and positive developments within the regulatory landscape. Bitcoin is leading the charge, edging closer to the coveted $95,000 mark, while altcoins across the board are also registering substantial gains.

SEC Chair Signals Shift in Crypto Regulation, Boosting Investor Confidence

A key catalyst for this market surge appears to be a shift in sentiment following recent pronouncements from U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins. Speaking on Tuesday, April 22nd, Atkins pledged a commitment to protecting investors from fraudulent activities, ensuring that political considerations remain separate from financial regulation, and establishing a robust framework for the oversight of digital assets. This statement has ignited hopes among investors that the SEC may adopt a more pragmatic approach to the crypto industry, potentially leading to a resolution in the long-standing legal battle with Ripple. Speculation is growing that Atkins might consider dropping the SEC’s appeal in the case.

XRP Price Surges on ETF Buzz and Ripple Legal Developments

XRP, in particular, has witnessed a significant price surge, jumping over 6% on April 22nd to reach a high of $2.25. This upward momentum is attributed to increasing investor interest surrounding Ripple’s ongoing legal proceedings and a notable spike in applications for XRP exchange-traded funds (ETFs). Currently, 12 XRP ETF applications are under review, although major players like BlackRock and Vanguard have yet to enter the fray. Analysts suggest that the SEC might follow a similar approach to Bitcoin ETFs and approve multiple XRP ETFs simultaneously, with a decision expected within the next 180 days. This potential influx of institutional investment is fueling speculation that XRP could revisit its all-time high of $3.55, despite anticipated price volatility within the $1.70 to $3 range.

Analysts Predict Major Breakout for XRP

Several crypto analysts are pointing towards a potentially significant breakout for XRP. Dark Defender suggests that XRP is nearing the end of its Wave 4 correction and could be on the cusp of a strong bullish run. He highlighted that XRP recently touched a key target of $2.1937 and subsequently bounced back, indicating the wave structure is unfolding as anticipated. He identifies $1.8815 as a crucial support level, with $2.22 and $2.40 acting as key resistance points that need to be breached for a more substantial upward movement.

Similarly, analyst Ali Martinez has observed a potential inverse head and shoulders pattern forming for XRP, which could signal a bullish breakout towards $2.70. Adding to the optimistic outlook, analyst Diana has presented multiple scenarios, with the most bullish predicting a potential surge to $27.50 by January 2026, driven by historical price trends and positive catalysts.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: XRP vs ETH: 3 Reasons XRP’s Market Cap Could Soon Surpass Ethereum (ETH)

Related Posts