Doctor Profit (@DrProfitCrypto) cryptocurrency analyst has published XRP price prediction following Ripple’s partial victory over the U.S. Securities and Exchange Commission (SEC) on Wednesday. The analysis, delivered to his substantial base of 311,000 followers on X, delves into the implications of the court’s decision and the technical outlook for XRP.
Implications for XRP
Doctor Profit began by re-examining XRP’s historical performance, highlighting its resilience and significant milestones. He reminds his audience that XRP’s price rose by a remarkable 60,000% in 2017 and has maintained a position in the top 10 cryptocurrency market cap rankings for a decade. This, he argues, underscores its stability and appeal in a volatile cryptocurrency market. Despite a 75% drop in value following the SEC lawsuit in 2020, XRP has shown remarkable durability, he notes, maintaining its high market position amid widespread market pessimism and altcoin shifts.
Yesterday’s legal victory was described by Doctor Profit as a “huge, bullish event” that provides much-needed regulatory clarity for XRP. He speculated on the positive implications of the outcome, suggesting it could lead to increased institutional adoption and potentially pave the way for an XRP exchange-traded fund (ETF).
“This is a huge bullish event due to the newfound regulatory clarity and the flood of bullish rumors to come. Is it a stretch to suggest that the SEC and XRP could be working on an XRP ETF behind closed doors? This fits perfectly with my ETF approval ranking prediction: BTC first, ETH second, and XRP third — not SOL,” Doctor Profit claims.
He also suggests that the newfound legal clarity could spur partnerships and integration of XRP with more financial platforms and systems. “Did you know that Ripple has partnerships with over 300 financial institutions worldwide? The Ripple network has been tested at the European Central Bank and is even mentioned in their report. The same goes for Bank of America and many other banks around the world! XRP will play a key role in the implementation of CBDCs,” the analyst writes.
XRP Price Analysis
Focusing on technical analysis, Doctor Profit has identified a key resistance line at $0.72, stemming from a pattern established in 2017. This resistance has been tested multiple times over the years without a definitive breakout. According to his analysis, the current chart pattern is a mirror image of the setup prior to the 2017 rally, indicating the potential for a similarly explosive price action if XRP is able to break through this resistance level decisively.
The analyst also provides detailed price targets supported by this technical setup and bullish market sentiment following the resolution of the lawsuit. In a best-case scenario, XRP could rise to $16-$20, based on a repeat of historical moves and broader market acceptance.
The analyst writes: “If we hit another rejection level at $0.72, don’t panic. A breakout is inevitable and I expect targets well above $1 by Q1 2025 at the latest. When XRP makes the move from 2017 and reaches the same Fibonacci levels we saw in 2017, we are looking at a potential top of $16!”
More conservative estimates suggest XRP at $4-$7, assuming more moderate market conditions and investor reaction. Doctor Profit also suggests key buy zones around $0.38-$0.44. “I’m holding this diamond tight! I’ve been holding it for four years and buying on dips. Key buy zones are $0.38-$0.44, which is where I’ve been buying for the past few months. If the market falls back to those zones, I’ll buy even more,” he concluded.
At the time of going to press, XRP was priced at $0.6064.
Featured image created with DALL.E, chart from TradingView.com
