Analyst Forecasts XRP Price Surge to $9-$10 After Recent Developments

The US Securities and Exchange Commission (SEC) has dropped its four-year case against Ripple, leading to a surge in XRP's price by over 13% to $2.60 on March 20. Currently, XRP is valued at approximately $2.39 after a slight retracement.

XRP Market Outlook

Analyst Egrag Crypto predicts bullish momentum for XRP based on recent price action and Fibonacci retracement levels:

XRP has closed above the Fib. 1.0 level consistently for three months, indicating resilience.
First price target projected at Fib 1.236, with potential for a continuous surge towards Fib Circle 5 and Fib 1.414 ($5-$6).
Further extensions could reach Fib 1.618, suggesting targets of $9-$10.
Timing of price gains is crucial; early predictions may lead to corrections, while later movements could indicate market tops.

Current Market Conditions

As of now, market sentiment is neutral, with XRP trading at $2.38, reflecting a 1.43% loss in the last day. Daily trading volume has decreased by 31.64%, showing reduced market interest despite the previous surge. Additionally, Ripple CEO Brad Garlinghouse mentioned optimism regarding an XRP Spot ETF approval potentially before the end of 2025.