Ripple’s CEO, Brad Garlinghouse, confirmed an agreement with SEC staff to dismiss the ongoing case against Ripple. This news has stirred excitement among XRP investors, as there are implications for Ripple price and the wider crypto market. However, while this agreement appears to be a positive step, an analyst cautions that the XRP price remains at risk of potential declines.
Crypto analyst Crypto Patel shared insights surrounding Ripple. According to him, XRP saw a robust increase of 28% after the price bounced off a support level around $1.60. This support level was carefully marked by Patel, indicating it was a critical point for traders.
He pointed out that many investors might have been caught buying XRP when it reached the $2.40 to $2.50 range. This area showed signs of exhaustion, and as a result, the price has since decreased by approximately 30%. Although there might be a chance for XRP to rise back to the $2.40 to $2.50 resistance area, Patel warns that this zone could again act as a point of rejection.
Patel’s analysis suggests that if the bullish momentum persists, XRP could indeed revisit the higher resistance area, but he sees the potential for an initial pullback to around $1.30 and $1.00. These levels align with crucial support zones identified by the Fair Value Gap (FVG) metrics, and he emphasizes that they carry significance for future price movements.
Patel remains generally optimistic about XRP’s trajectory in the broader market cycle, projecting a potential move toward $7 to $10 during a full bull market stage. He advises traders to look for strategic entries during dips into major support zones rather than at price peaks and highlights that the key invalidation level for this positive outlook would be a sustained close above $2.50.
Read Also: XRP Price Prediction for Today and This Weekend (April 11 – 13)
Ripple’s Legal Developments and Market Sentiment
In the backdrop of XRP’s fluctuating price, the news of Ripple reaching an agreement with the SEC has created a more favorable sentiment around the cryptocurrency. There are more reports on the decisive agreement involving Ripple and the SEC.
🚨BREAKING: Brad Garlinghouse confirms an agreement with SEC staff to dismiss the Ripple case.
— Coin Bureau (@coinbureau) April 12, 2025
The $125M fine is mostly being refunded, including the interest earned, and Ripple may even settle a $50M fine in XRP.
BULLISH for $XRP?🚀 pic.twitter.com/byXUQoq2m4
The details revealed that the $125 million fine imposed on Ripple will mostly be refunded, including accrued interest, which is a bullish sign for the XRP market. Furthermore, Ripple may settle an additional fine of $50 million, potentially payable in XRP.
This legal resolution has sparked discussions about how such developments could influence the Ripple price in the near term. The agreement is a step in the right direction for Ripple but does not eliminate the risks that XRP may currently face in the market.
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