XRP has been in the spotlight this past week following the surprising decision by the US Securities and Exchange Commission (SEC) to conclude its lengthy four-year lawsuit with Ripple. This major development prompted a surge in demand for XRP, causing the altcoin to jump by over 13%, briefly touching $2.60 on March 20. Since then, however, XRP has pulled back slightly, now trading at about $2.39. Even so, according to insights from market analyst Egrag Crypto, the cryptocurrency is still poised for significant gains.
## XRP’s Promising Monthly Performance Suggests Further Growth
In a post dated March 21, Egrag Crypto shared an encouraging forecast for XRP, drawing on recent price trends and Fibonacci retracement levels. The analyst highlighted that XRP has closed consistently above the Fic. 1.0 level for the past three months, forming solid full-body candles in the process. This pattern underscores XRP’s resilience in a volatile crypto market and could signal continued upward momentum. Full-body candles are particularly noteworthy because they often confirm price movements more reliably than formations with wicks.
Given XRP’s robust technical performance, Egrag anticipates that the altcoin may soon rally towards its initial target at Fib 1.236. With minimal resistance at this point, a further climb to Fib Circle 5 and Fib 1.414—potentially reaching the $5-$6 price range—is possible.
The analyst also suggests that based on these Fibonacci levels, XRP’s price could extend to reach Fib 1.618, predicting a potential target between $9 and $10. However, the timing of these price movements has significant implications for XRP and the broader crypto landscape. If these forecasted gains occur between now and May, a subsequent correction is expected, potentially extending the bullish trend and opening the door to even higher targets for XRP. Yet, if the gains materialize during the summer of 2025 or in the fourth quarter of that year, it may signify a market peak, possibly ending the current cycle.
## Current XRP Market Climate
Coincodex currently describes market sentiment as neutral while the crypto world searches for a clear direction. Still, several factors suggest positive prospects for XRP, the fourth-largest cryptocurrency. Beyond the recent legal resolution, Ripple CEO Brad Garlinghouse remains optimistic about the approval of an XRP Spot ETF, which he believes could happen before 2025 concludes. Additionally, Garlinghouse anticipates that US President Donald Trump might consider adding XRP to the U.S. digital asset reserves.
As of now, XRP is trading at $2.38, marking a 1.43% loss over the past 24 hours. Moreover, the daily trading volume has dropped by 31.64%, pointing to waning market interest despite the recent price spike.
