Here's Why a XRP All-Time High is Likely in August | Credit: Hameem Sarwar
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Key Takeaways
The SEC vs Ripple case has officially ended.
XRP is creating a bullish engulfing candlestick.
Can XRP reach a new all-time high in August?
After years of back-and-forth, the Ripple vs. SEC case is finally over, ending one of the most talked-about battles in crypto.
The XRP price is mired in a bullish trend and is approaching a new all-time high.
Let’s examine the charts and see if that is likely.
Ripple vs SEC
The prolonged SEC vs Ripple lawsuit has finally ended.
The SEC and Ripple filed a Joint Dismissal of the Appeals, and following the commission’s vote, the case finally ended.
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To summarize the case, the district court ruled that XRP sales are not securities, but the institutional sales violate securities law.
Ripple was hit with a $125 million civil penalty before the case was officially closed.
The positive Ripple news does not end with the SEC decision.
CEO Brad Garlinghouse announced that Ripple has acquired RailFinancial, aiming to become the go-to provider of stablecoin infrastructure worldwide
XRP Price Prediction
After briefly falling below the $3 horizontal level last week, the XRP price is creating a bullish engulfing candlestick this week (green icon).
XRP prevented a breakdown, has regained last week’s losses, and is pushing toward a new all-time high price.
A similar retest on a much longer time frame happened on April 7 (black icon), after which the XRP price started the ongoing increase, which coincided with a spike in transaction volume.
The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) push upward.
The RSI bounced at 50 while the MACD made a bullish cross (black circle), suggesting new highs are on the horizon.
XRP’s shorter-term daily time frame shows that the price is currently in the fifth and final wave of its upward trend after completing a fourth-wave pullback.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
