This month is crucial in the Ripple vs SEC lawsuit. Several key events are set to happen including the submission of the SEC’s opening brief on January 15 as per court schedule. Several analysts have taken time out to forecast XRP’s potential movement once the case is resolved.
A recent prediction shared on X by a member of the crypto community, suggested a parabolic surge in the price of XRP if the outcome turns out favorable for Ripple.
Ripple vs SEC Resolution to Catalyze XRP Movement
In a recent post on X (formerly Twitter), Digital Asset Investor (DAI), a key figure in the crypto community, shared a question and answer session between him and an AI model, where he questioned XRP’s possible movement following the case resolution.
DAI referenced XRP’s historical movement particularly in December 2020 when the SEC first filed its lawsuit against Ripple. At the time, the price of XRP dropped by 66% from an average of $0.5 to $0.17. This also triggered a fall in its position, dropping to #7 on the global crypto market chart.
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DAI quizzed the AI model about a possible outcome for XRP when the market discovers that the case has been resolved. The AI model noted that a resolution in the case would trigger a parabolic surge for XRP, repeating the same movement, but this time, in the opposite direction.
Precisely, the AI model noted that XRP could spike by the same 66% to reach a high of $3.62, which is visibly higher than XRP’s previous all-time high of $3.4 reached in January 2018.
Meanwhile, the AI model quickly reminded DAI that the prediction is speculative and based on historical data and that XRP’s future movement might not necessarily depend on its past. However, the caution did not affect DAI’s confidence rather, it backed his belief in XRP reaching new heights.
“Using history as my guide, I believe the announcement of a resolution of the SEC vs. ripple case could be the catalyst for zooming passed the XRP All Time High. FOMO could kick in from there and do crazy things,” he said.
Other Analysts Predict More Bullish Outcome
Meanwhile, other notable crypto analysts have also predicted bullish outcomes for XRP this month. Some have even forecasted XRP achieving double digits. Precisely, Alex Clay forecasted XRP to $10, noting that it just made a strong break out above the monthly supply zone.
Source: Alex Clay/X
Earlier today, Dark Defender pointed out that XRP now targets the $4.11 and $5.85 price levels, referencing analysis from the Fibonacci retracement levels.
He noted that the current XRP spike is just a “Warm-up” for what is to come this month. Notably, XRP rallied today, surging by 3.14% to $2.47 at the time of writing. Last year, another analyst, Egrag Crypto, predicted that XRP is on course to hit $5.89, painting it as the worst-case scenario, with $6.5 as the best case.
As the January 15 deadline approaches, it is still yet to be confirmed if the SEC will move on with the case or move on from it. The entire crypto industry continues to observe as the outcome could impact how cryptocurrencies are regulated.
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