XRP price eyes get 60% from Gary Gensler SEC release

XRP (XRP) looks set to add 60% in the coming days after breaking out of a similar triangle pattern.

The upside view coincides with a series of developments in Ripple's ongoing legal battle with the US Securities and Exchange Commission (SEC).

The price of XRP in the “next two days” is 4 dollars

Congruent triangles are considered bullish continuations with increasing trading volume when prices break above their upper trend lines. That seems to be the case with XRP, which entered the breakout phase of the triangle pattern on January 11.

A symmetrical triangle breakout target is measured by adding the maximum height of the pattern to the breakout point. Applying the same rule to the XRP chart brings the target to around $4.

According to independent market analyst World Charts, the cryptocurrency may reach the level in the next two days.

Since January 12th, XRP has been showing signs of retreating into the downward trend of the triangle around $2.37.

A break below this wave support can invalidate a symmetrical triangle breakout, but increases the likelihood of a fall to the lower pattern line.

This lower target is in line with the 50-12H Explanatory Moving Average (50-12H EMA; red wave) around $2.30.

However, a hold above the trendline above makes XRP more likely to reach the $4 symmetric triangle target.

Ripple has scored another small victory over the SEC

XRP entered the Mimetric Triangle breakout phase just hours after Ripple's small victory in its ongoing legal battle with the SEC.

On January 11, a federal judge approved the administration's request to provide certain documents under seal, ensuring the confidentiality of classified information in an ongoing legal battle.

Specifically, the judge agreed to publish confidential, sensitive, and personally identifiable information related to Ripple's summary judgment motion.

The decision comes as the SEC faces a Jan. 15 deadline to file its appeal-related opening brief challenging key rulings in the Ripple case.

In an October notice of appeal, the SEC indicated that it plans to challenge the summary judgment, including Judge Analisa Torres' ruling that regular sales of XRP do not meet the requirements of the Hawaii test. This appeal has contributed to XRP price volatility since July 2023.

Even as SEC Chairman Gary Gensler steps down on Jan. 20 and former commissioner Paul Atkins is expected to take over, the agency appears committed to pursuing the appeal.

In December 2024, Gensler promoted top crypto enforcement attorneys to ensure the continuation of the case.

However, legal experts speculate that Atkins could reverse the SEC's aggressive stance on crypto, fueling cautious optimism among investors.

“Paul loves free markets and hates excessive regulation – he should be positive for the cryptoverse network,” said John Reed Stark, former head of the SEC's Office of Internet Enforcement, after Donald Trump won the election in November.

“Paul has always believed that SEC enforcement can be overly burdensome at times, inconsistent and requires much-needed reforms – so expect buy-in to SEC enforcement to be a priority for Paul.”

RELATED: XRP Price Prep For ‘Strong Move' Above $2.90 As Sentiment Gauges Show Optimism

XRP's price could reach $4 as optimism grows that incoming SEC leadership under Atkins will take a more favorable stance on Ripple and crypto regulation, easing legal uncertainty.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.