XRP Breakout Targets 60% Rally Amid Ripple’s Courtroom Success

• XRP targets a 60% rally after breaking out of a symmetrical triangle, with a price target of $4 if momentum holds above $2.37.
• Ripple’s courtroom wins and SEC leadership shifts, including Gary Gensler’s exit, boost optimism for XRP and broader crypto industry growth.

XRP’s technical breakout, Ripple’s courtroom gains, and regulatory optimism create a favorable environment for the cryptocurrency to reach its $4 target. However, maintaining support above the breakout level will be crucial to sustaining this momentum.

Previously, CNF highlighted signals of a major breakout when Ripple’s XRP showed a bullish pattern, indicating a potential surge to $5. Currently, XRP appears set for a 60% rally after breaking above a symmetrical triangle pattern—a bullish indicator. This breakout, coupled with increasing trading volume, suggests a price target of $4.

According to CoinMarketCap data, Ripple (XRP) is trading at $2.43, reflecting a 3.68% decrease in the past day but a 2.17% increase over the past week.

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Independent analyst World of Charts predicts that XRP could reach this level within days. However, a dip below $2.37 could invalidate the breakout and lead to further declines, with support near the $2.30 level.

Ripple’s Courtroom Momentum Boosts XRP

Bullish sentiment around XRP is bolstered by Ripple’s progress in its legal battle against the SEC. On January 11, a federal judge approved a motion to seal sensitive documents, marking a small but notable win for Ripple. Meanwhile, the SEC is racing to meet a January 15 deadline to file its appeal, challenging past rulings that favored Ripple, including the classification of XRP sales as non-securities under the Howey Test.

According to a recent tweet by IBC, it was revealed that XRP is poised for a 60% breakout amid an SEC leadership shakeup, with further statements highlighting Ripple’s courtroom success and the potential for a crypto-friendly regulatory environment.

XRP just broke out of a bullish symmetrical triangle pattern, targeting a $4 price in the ‘next couple of days’ if momentum holds. Ripple notched a win in its legal fight with the SEC, sealing key documents as the agency approaches a leadership transition. Gary Gensler exits Jan. 20, with Paul Atkins expected to bring a crypto-friendly vibe.

Optimism Grows Amid Leadership Changes at SEC

Leadership shifts at the SEC are fueling optimism among investors. With Gary Gensler stepping down as SEC Chair on January 20, and former Commissioner Paul Atkins expected to take over, many anticipate a shift toward a more balanced regulatory stance.

Legal experts predict that Atkins’ free-market perspective and criticism of heavy-handed enforcement could benefit Ripple and the broader crypto industry. This change, coupled with Ripple’s legal progress, has further strengthened market confidence in XRP’s potential to rally.