- XRP remains stable near $3 as speculation rises over SEC dropping its Ripple appeal, fueling bullish sentiment among investors.
- Analysts target $3.40, $3.60, and $3.90–$4.00 for XRP, with patterns hinting at a potential surge to $4.55 amid market accumulation.
- XRP’s breakout above $2.80–$2.90 support and a 21 EMA close reinforce short-term bullish momentum, signaling further gains ahead.
Market attention has turned to the ongoing SEC vs. Ripple case as new speculation emerged about a possible withdrawal of the appeal. On January 28, XRP investor JackTheRippler shared a post on X, revealing that Ripple and the civil actions against it had been removed from the SEC’s website. A search of the SEC’s Litigation Releases RSS Feed confirmed the absence of references to Ripple, leading to increased discussions among investors.
Speculation Rises
Despite this, XRP’s price remained relatively stable, indicating that investors are awaiting an official confirmation. Ripple’s expansion within the U.S. has continued, even as the SEC’s appeal against the Programmatic Sales of XRP ruling remains unresolved.
Speculation over the appeal’s withdrawal has increased following Gary Gensler’s resignation as SEC Chair. His replacement, Trump appointed Acting SEC Chair Mark Uyeda, has suggested a shift in enforcement policies, stating that crypto cases without fraud allegations should be reconsidered.
Upcoming SEC Meeting
The SEC’s upcoming closed meeting on January 30 could bring further discussions on the Ripple case. Typically, at least three Commissioners are required for a quorum.
However, the recent rescission of Staff Accounting Bulletin (SAB) 121 suggests an increased likelihood of dropping the appeal before Paul Atkins completes the confirmation process. Commissioner Hester Peirce has previously voiced concerns over aggressive crypto enforcement, aligning with Uyeda’s stance.
With these regulatory news, XRP’s price movement remains under scrutiny. On January 29, at press time, XRP was trading at $3.10, a 0.50% decline in 24 hours and a 1.95% drop over the past week.
XRP Shows Bullish Strength
According to analyst Rose, XRP is showing signs of substantial growth. The analyst noted that XRP’s market cap could potentially double as the price nears a discovery phase.
XRP recently broke out of a descending channel and confirmed support between $2.80 and $2.90, reinforcing bullish momentum. Rose identified three upside targets: $3.40, $3.60, and the $3.90–$4.00 range, which is the major resistance zone. As per Steph is Crypto, XRP’s price patterns align with a descending broadening wedge, with a projected target of $4.55.
Analyst Egrag Crypto added that XRP, on a 4 hour time frame shows a close above the 21 EMA, reinforcing a short term bullish trend. Additionally, continuous accumulation of XRP below $3 suggests strong support for further gains.
