Is the $1 rally bull market Ripple (XRP) holders have been waiting for coming?
Steve Courtney, a crypto trader with 78,500 X followers, analyzes that XRP is on the verge of a "triangle breakout". "Support is holding, resistance is being tested," Courtney said in a tweet on Thursday (Aug. 24), according to crypto news outlet YT. Could this be the week we've been waiting for?" he said. According to Courtney, key indicators such as the Relative Strength Index (RSI) and Stochastic RSI (sRSI) are showing bullish signals. According to him, this could be a decisive week for XRP holders. However, he warns that a bullish turn can only happen if the weekly candle closes above the resistance level.
According to the media, XRP has rallied 6.3% in the last 24 hours, breaking above a key resistance level. This is the highest gain among the top 10 cryptocurrencies, with Solana (SOL) coming in second with a 5.2% gain. On Thursday of this week, XRP reached $0.6328. "XRP has rebounded on the back of persistent rumors surrounding settlement talks between Ripple and the U.S. Securities and Exchange Commission (SEC) earlier this month," Yutoday notes. In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse said that the long-running legal battle is coming to an end, but did not disclose any details about the potential settlement. Many community members are hopeful that the XRP price could finally experience a major upswing after years of sluggishness.
Meanwhile, crypto news outlet WatchGuru reports, "After the launch of the Ethereum (ETH) spot ETF on US exchanges, the possibility of another crypto ETF has increased. Whether it's Ripple (XRP) or Solana (SOL) that's next, this development could be positive for the XRP price in Q4." "For XRP price to move higher in earnest, three catalysts are needed: whale control of the token, technical daily performance, and the end of the SEC lawsuit. In a recent interview, the CEO of Garlinghouse said that the end of the SEC lawsuit is imminent, and a $1 recovery could be possible if these events coincide. In that case, XRP could become the fifth largest cryptocurrency market capitalization."
