XRP Price Analysis : Top Indicator Points at XRP Bull Run In Four Weeks

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Ripple Labs-backed XRP has continued to trade above 50 cents on Tuesday despite the many temptations to further drop in the ongoing market correction. The mid-capped altcoin used in facilitating seamless cross-border payments with reduced frictions has been consolidating in a triangular pattern since 2018 and is undeniably fast approaching the apex of the wedge.

As a result, most crypto analysts forecast an inevitable bullish breakout on XRP as the lawsuit enters the final phase of the civil trial.

Ripple Losses a Major Fight, but The Battle Is Still On 

Over the past few weeks, the attorneys representing the United States Securities and Exchange Commission (SEC) have managed to convince the court that Ripple should disclose its XRP transactions contracts in the past two years. Notably, Ripple had tried to fight the move by arguing the motion would be a huge burden, but its market success could be its biggest enemy.

Moreover, the civil trial could find Ripple guilty of violating securities law thus significantly impacting the On-Demand Liquidity (ODL) program in the United States.

What Next for XRP Price Action?

According to a popular crypto analyst Ali Martinez, the weekly TD Sequential Indicator has signaled an incoming reversal in the near term. The XRP’s short-term bullish outlook will ultimately be triggered by the continued crypto cash rotation from Bitcoin (BTC) to the altcoin market.

Notably, a continued ETH/BTC bullish breakout will bolster the narrative of the much-anticipated altseason. Moreover, the narratives on the upcoming Dencun upgrade and the approval of spot Ether ETF in the United States are expected to increase the altseason in the coming months.