9th February 2025 – (New York) XRP has been contending with a turbulent market, experiencing recent pullbacks while demonstrating notable resilience.
With the U.S. Securities and Exchange Commission (SEC) restructuring its crypto enforcement unit, analysts are divided on the likelihood of an imminent price rally for XRP. Some experts speculate a potential short-term surge of 18%, projecting XRP to reach $2.80, while others set their sights higher, suggesting the cryptocurrency could climb to $8 if key support levels hold.
The SEC’s recent shake-up has ignited optimism among market participants. Reports indicate that the majority of the SEC’s crypto enforcement team has been reassigned to other departments, significantly reducing regulatory crackdowns. According to The New York Times, over 50 staff members have been moved, although the SEC declined to comment on the situation. This reshuffle may signal a softer stance towards digital assets.
Ripple’s Chief Legal Officer, Stuart Alderoty, expressed his optimism following a recent meeting with SEC Commissioner Hester Peirce. “Regulatory clarity is long overdue, and these developments could herald the start of a more constructive dialogue with the industry,” Alderoty remarked. Similarly, Hon Ng, Chief Legal Officer at Bitget, noted that this shift presents an opportunity for the SEC to reclaim its influential role in shaping global standards for digital asset regulation, paving the way for a more transparent framework.
Despite a 25% drop in the past week, XRP has managed to maintain its position above the psychologically important $2 mark. Data from Santiment indicates that traders realised losses of approximately $124.92 million on February 5, often a sign that selling pressure may be easing. Furthermore, daily active addresses remain above the 2024 average, and the number of XRP holders is on the rise, suggesting strong network engagement that could support a recovery if market conditions improve.
Technical analysts have pinpointed crucial support and resistance levels that may dictate XRP’s next move. ProjectSyndicate, a crypto analyst, predicts a 40% upside if XRP holds above $2, stating, “The current pullback is a healthy correction. If XRP stabilises at $2, a rebound towards $2.80 is likely.” Another analyst, ColdBloodedCharter, noted that XRP has entered an accumulation phase, identifying ideal “buy-the-dip” levels between $2.50 and $2.25-$2.30.
Some analysts are even more bullish, with projections suggesting that XRP could ascend to $8 if it maintains key support levels. Dark Defender, a well-known technical analyst, has outlined a five-wave Elliott Wave pattern aiming for $5.85 as the next significant milestone, with potential for an extension to $8. XForceGlobal echoed this sentiment, suggesting that a 50% bounce could trigger a substantial breakout.
Beyond technical factors, XRP’s price movement is also influenced by regulatory developments. The ongoing case between the SEC and Ripple remains crucial, with the reassignment of key SEC personnel, including Jorge Tenreiro, the lead litigator in the case, fuelling speculation about a possible settlement. Additionally, the potential approval of an XRP exchange-traded fund (ETF) could serve as a major catalyst, significantly boosting institutional interest and demand.
Ripple CEO Brad Garlinghouse has reportedly emerged as a leading candidate for an advisory role on the White House Crypto Council, highlighting Ripple’s increasing influence in shaping U.S. policy around digital assets. His recent appearance alongside President Trump at Mar-a-Lago has sparked speculation about a future position in the new administration, as top crypto donors vie for a seat on Trump’s newly established crypto advisory board.
This council, formed by executive order during Trump’s initial week in office, aims to advance the nation’s leadership in cryptocurrencies and blockchain development, collaborating closely with AI & Crypto Czar David Sacks to formulate policies and establish clear regulations for the digital economy.
As XRP exhibits significant bullish movement, predictions suggest it could rise to $22 by early 2025. Recently, XRP surged nearly 500%, reaching a peak of $2.87 before experiencing a pullback to its current price of $2.40, marking a 20.5% decline this year, primarily influenced by Ripple’s launch of the RLUSD stablecoin. Analysts believe this dip represents a typical market correction, with larger cycles yet to come.
Market experts suggest that a breakout above the $2.60 resistance level could initiate another major price surge. DonAlt, a notable crypto trader, remains optimistic about XRP potentially doubling again with the right momentum, while EGRAG forecasts a price range of $8.77 to $17.54 if Ripple achieves its ambitious $5 trillion market cap goal.
