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Following the bearish week, the crypto market witnesses a massive altcoin dump. Amidst the crashing altcoins, XRP price broke below the $0.50 psychological mark with an 11% fall last week. XRP fell by 8.44% in July alone, while Bitcoin (BTC) dropped by 8.61%. Despite this, some analysts foresee an imminent market turnaround for XRP if it concludes this month.
What’s really at play?
Timeline for an XRP Price Pump
XRP is currently trading at $0.4354 amidst a bearish trend. The Ripple Effect, a prominent XRP community commentator, identified a crucial technical pattern: a breakdown of a massive triangle in XRP’s price chart. He noted that a weekly close to $0.42 could signal a sharp sell-off. He sets the potential buy targets at $0.12-$0.14 and $0.07-$0.08, calling these levels attractive entry points before an anticipated price pump between 2026 and 2030.
Impact of the Ripple v. SEC Case
Since the case began in 2020, XRP has taken a massive toll on its price regarding whether XRP is a security. A milestone was reached last July when XRP was classified as not a security, bringing optimism to the market. However, the case is now in the remedies phase and could continue until mid-2026, delaying a substantial price pump until the legal uncertainty is resolved. As per the latest update, the jury will conclude the XRP status.
Mixed Views on Case Resolution
The Ripple Effect suggests the case could drag on until July 2026, impacting XRP’s price timeline. However, Ripple’s CEO, Brad Garlinghouse, predicts the case could conclude by the end of this year, with some industry observers expecting a ruling as early as this month. The case resolution is anticipated to lead to a significant price increase for XRP, emphasizing the importance of investor patience.
Pro-XRP lawyer Fred Rispoli predicts Judge Torres may issue a summary judgment in SEC vs.
Ripple by month’s end. After 3 years, a resolution is near. Ripple’s recent filing strengthens their case. The XRP community awaits the verdict by 7/31, though Rispoli humorously suggests 7/13.
Current Scenario
Meanwhile, XRP expects a massive surge in July as the case might close this month. Blockchain tracker WhaleAlert has revealed a substantial transfer of 37.39 million XRP tokens—equivalent to roughly $16.06 million—from a large XRP holder to Bitstamp, a prominent crypto exchange. This large XRP whale dump suggests a waning of bullish sentiment regarding the SEC case settlement.
While the broader crypto market remains down, could be the trigger point for the whale’s move to mitigate potential losses. XRP is trading at $0.4355, reflecting a 0.68% increase over the past 24 hours.