Will SEC Appeal? XRP Price Eyes $5 if SEC Stands Down

Ripple’s XRP might be on the verge of a big breakout, with its price potentially rising to $5 if it captures 50% of the global remittance market. Recent price trends show a bullish continuation pattern, hinting at a 40% rise in the short term. Combined with the SEC’s upcoming appeal deadline and a recent 50 basis point rate cut, the outlook for XRP looks promising.

XRP’s flat performance and the $1 target seem far off, but don’t count it out yet—key moves could spark a new all-time high! Read on. 

SEC Deadline Nears: Could XRP Rally?

With just 17 days left before the SEC’s October 6 deadline to appeal the Ripple lawsuit settlement, market speculation is heating up. If the SEC decides not to appeal, XRP could see a significant price jump, possibly reaching $5. Ripple is currently holding $125 million until the appeal period ends. If no appeal is filed, this could boost market confidence and trigger a rally.

Ripple’s Remittance Ambitions Could Send XRP to New Heights

Ripple’s XRP is uniquely designed for cross-border payments, making it a valuable asset in the global remittance market. According to Statista, this market is set to reach $11.53 trillion by 2024, with projections hitting $16.59 trillion by 2028. If Ripple manages to secure even 50% of this market, XRP could see unprecedented gains.

With a total supply of 100 billion tokens and only 56.4 billion in circulation, XRP’s price could theoretically reach $283 under ideal conditions if supply remains controlled.

XRP’s Future: Reserve Asset or Price Boom?

There’s growing talk that XRP could become a reserve asset, much like how gold supports the U.S. dollar. Ripple’s CTO has even hinted that XRP’s escrowed tokens might be ‘burned,’ reducing supply and driving prices up. If this happens, XRP could experience an extraordinary rise, with some estimates pointing to a 48,900% increase from its current price.

The Countdown Is On: What’s Next for XRP?

As the SEC appeal deadline approaches and Ripple’s role in the remittance market expands, XRP is on the verge of a major rally. A decision not to appeal, coupled with Ripple’s growing market share, could push the token past its resistance levels and make the $5 target a real possibility in the months ahead. Traders are watching closely, ready for a possible game-changing move.

Also Check Out: Ripple News: How $1,000 Investment in XRP Could Skyrocket to $1 Million

As the clock ticks down, the XRP community eagerly awaits the answer to the million-dollar question: will the SEC appeal or will Ripple’s victory be sealed?