Ripple (XRP) may be on the brink of experiencing its largest price increase ever, following its recent settlement with the US Securities and Exchange Commission (SEC). Traders are eagerly anticipating an unprecedented surge for the cryptocurrency, with metrics indicating a potential landmark increase for the asset.
The settlement marked the end of a years-long legal battle between Ripple Labs and the SEC, providing the company with regulatory clarity that could pave the way for a monumental breakout for XRP. This newfound clarity has boosted sentiment among traders, who believe that the token is poised for a significant price surge.
In the past week alone, XRP has surged by more than 18%, according to CoinMarketCap. However, many traders believe that this is just the beginning of a much larger price increase. One pseudonymous crypto trader, Steph is Crypto, took to social media to share their bullish outlook on XRP, highlighting a bullish triangle pattern on the monthly chart that typically precedes massive price surges in the crypto market.
The chart pattern has also shown a significant increase in XRP trading volume, with the asset seeing more than $1.5 billion in trading activity in the last 24 hours. Additionally, traders have put more than $2 million into the asset’s $1.10 call option, indicating a belief that XRP’s value could double by the end of the month.
This bullish sentiment extends beyond just price speculation, as there is growing hype around the potential for XRP to be included in crypto-based exchange-traded funds (ETFs) in the United States. Some analysts expect Ripple and Solana to join Bitcoin and Ethereum as eligible assets for ETFs in 2025, further fueling optimism for XRP’s future price potential.
Overall, the recent settlement with the SEC and the positive technical indicators have positioned XRP for what could be its biggest price increase ever. Traders and investors are closely watching the market for any signs of a breakout that could propel XRP to new heights in the coming weeks.