XRP’s Potential Surge to $12.6 Following SEC Case Closure and ETF Launches

Key Points

1. XRP's bullish target is set at $12.6, reflecting significant growth potential after breaking out from a multi-year triangle pattern in November 2022.

2. The SEC officially closed its case against Ripple on August 11, allowing Ripple to focus on regulatory clarity and fostering a clearer regulatory framework for crypto.

3. Multiple XRP ETFs have been launched in Canada, Europe, and Brazil, with a futures ETF available in the US, enhancing market confidence in XRP.

4. Ripple's chief legal officer, Stuart Alderoty, emphasized the importance of clear crypto regulations following the SEC case closure.

5. Despite BlackRock declining to launch a spot XRP ETF, other companies have filed to introduce such ETFs in the US.