The XRP price has dropped by 5% today, with the altcoin slipping to $2.48 as the crypto market as a whole declines by 4% in the past 24 hours.
Despite this fall, XRP remains up by 12.5% in the past week and by 15% in the past month, buoyed by the market-wide recovery that took effect earlier this week after the US and China reached a temporary truce on their tariff war.
And one thing that has been bullish for XRP in particular is that the SEC filed its settlement agreement letter last week, requesting that Judge Analisa Torres grant the wishes of both parties to suspend their respective appeals and close the case once and for all.
Assuming that Torres does provide an indicative ruling in favor of these requests, this could boost the likelihood of approval for several XRP ETFs, something which in turn could boost the XRP price massively.
XRP Price Prediction: Can Judge Torres Tip The Scales In Favor of a Ripple ETF, XRP to $10 in Q4?
As noted by lawyer James K. Filan on X, the SEC filed its letter this time last week, providing one of the final steps in its long-running case with Ripple.
Of particular interest is the fact that the SEC is asking to keep only $50 million of the original $125 million settlement, with the rest returning to Ripple (the regular had initially pushed for a $2 billion penalty).
The end of the case could therefore arrive soon enough to have a bearing on next week’s intermediate deadlines for several XRP ETF applications, including filings from Bitwise, 21Shares, Canary Funds, WisdomTree and Grayscale.
But regardless of whether we have to wait until next week or October (when the final deadlines fall), the arrival of spot ETFs will be incredibly bullish for the XRP price.
Indeed, the sheer number of outstanding applications – ten (more than for any other altcoin) – indicate strong institutional demand for the altcoin.
And if we look at XRP’s chart today, we see that the token may have entered a more bullish phase, after a very difficult period in February and March (and early April).
Source: TradingViewAfter languishing below 50 during pretty much the entirety of this period, XRP’s relative strength index (purple) has risen close to 70 in the past few days.
It also seems that whales are getting ready for gains in the near future, with one large trader moving over $73 million in XRP a few hours ago.
Based on such factors, we could see the XRP price reach $3 by the end of the June, before climbing to $4 by Q4 .
Other Alts for Big Returns This Summer
XRP is going to be one of the market’s biggest tokens for some time to come, yet if traders want the biggest and quickest returns, they may have to turn to newer alternatives.
This includes presale coins, which can sometimes outperform the market when they list for the first time, particularly if they’ve had successful raises.
Probably the biggest sale of the year belongs to Solana-based layer-two platform Solaxy (SOLX), which has now raised a seriously impressive $36.2 million in its ICO.
As Solana’s first L2 network, Solaxy will provide users with low transaction fees and super faster confirmation times, helping them to avoid some of the delays and congestion that can still affect Solana even to this day.
Solaxy will also offer instant bridging between itself and Solana, while it will gradually expand compatibility to other chains post-launch.
Its reach and efficiency could help it become a key hub for meme tokens and DeFi, which continue to provide Solana with much of its traffic.
And what’s particularly bullish about SOLX itself is that you will need the coin to pay Solaxy’s transaction fees, so the token could experience huge demand.
SOLX’s sale will end in the next few weeks, but latecomers can still join by heading over to Solaxy’s official website.
SOLX currently costs $0.001726, but this will rise again in two days, so anyone wanting to lock in the biggest possible gains should act now.
The post XRP Price Prediction: Can Judge Torres Tip The Scales In Favor of a Ripple ETF, XRP to $10 in Q4? appeared first on Cryptonews.
