Ripple (XRP) is gaining maximum steam these days, and the reasons for this are pretty obvious. The token is now an official part of the US crypto reserve and has gained immense traction for the past few days. At the same time, the SEC has lately been dropping legal cases against major financial giants, which has activated the speculatory whims of the market. The speculation is now running amok whether the US SEC will soon drop the legal case filed against Ripple, liberating the token to perform at its best. However, there has been a significant delay in the process, which has led the community members to speculate about the price that XRP may soar and sit at once its verdict is out. But, from a fresh perspective, here’s how high XRP may soar irrespective of the verdict based on its future proceedings and performance.

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Ripple: New Developments

xrp blue background
Source: Bitcoin Block

Ripple (XRP) is currently conquering global dominions. The token is now an official part of Trump’s crypto reserve, which is giving immense power to the token to bank on. At the same time, XRP is also one of the leading tokens to be a part of the growing ETF narrative. Nearly 16 XRP ETFs have been filed with the US SEC as of now, which is also pushing the token to perform at its best.

At the same time, Ripple is brimming with new price developments, including speculation about the firm launching its custody wallet.

“It looks like we may be getting a crypto wallet from @Ripple. They filed a trademark for downloadable software. Since last year, Ripple has expanded its payment and custody offerings via the acquisition of various financial companies. They also intensified their blockchain educational efforts, and with this move, we may see yet another expansion into crypto custody, which will be bullish for $XRP.”

In addition to this, Ripple’s stablecoin arena is also gaining immense traction in the middle. The US government is also preparing to push the stablecoin market ahead, which once again is bullish for XRP, considering the firm has already launched the RLUSD stablecoin into the space.

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The Price Action: Where Is The Token Headed?

Per Dark Defender, a notable cryptocurrency analyst, XRP is headed towards claiming the $5 price mark in the near future.

“The primary correction on the weekly, daily frame and 4-hour structure is over for #XRP. There will be more minor ups and downs; we check daily in detail. XRP has started Wave 1 with an aim of $5.85. Supports: $2.30, $2.22. Resistances: $3.39, $5.85. The upcoming weeks will be fantastic.”

How High Can The Token Soar Despite The US SEC Verdict?

The US SEC is taking significant time to clear the pending Ripple case. This has led several speculatory elements to anticipate how high the token will soar once it’s out in the clear, free from all legal barriers. However, per Eleanor Terrett, former Fox News journalist, the delay might have been caused by ongoing negotiations that Ripple may have been conducting with the US SEC.

Per ChatGPT, irrespective of the US SEC verdict against Ripple, the token may soar to touch $3 to $5 if the market momentum continues to support Ripple’s expansion and growth.

XRP-GPT STATS
Source: ChatGPT

GPT’s mid-term analysis includes the token hitting as high as $8 amid the broader Ripple ecosystem. In a long-term scenario, the portal predicts XRP hitting as high as $15 due to its rising institutional demand and interest.

XRP GPT STATS
Source: ChatGPT

Also Read: Ripple (XRP) Vs. Cardano (ADA): Which Will Reach Its Peak First?

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