TL;DR

Ripple won the four-year legal battle against the SEC, expects an XRP ETF in the States, and a potential IPO in the country but is the native token about to drop? A popular analyst with over 130,000 followers on X suggested that the trend might have changed.

From Good to Better

Everything seems to be going Ripples way as of recently. After the US presidential elections, the entire landscape in the States changed for the better, and being situated there and sued by the local securities regulator for four years, Ripple was among the biggest beneficiaries.

The native tokens name was even mentioned by the new US president to be included in the countrys strategic crypto reserve. Reports emerged that the same regulator that sued the company for selling an unregistered security in the form of XRP has now contemplated classifying it as a commodity.

And to top it all off, just a few weeks after that, Ripples CEO Brad Garlinghouse declared a victory in the aforementioned legal case against the SEC. All eyes are now on the potential approval of an XRP ETF, which could complete a stellar year for Ripple and its community.

All of that sounds like good news, right? Well, XRPs price indeed went on a spectacular run after the elections. However, it failed to breach its 2018 all-time high despite matching it in January and has since fallen by 30% in spite of all the positive developments mentioned above.

This points to a classic sell-the-news moment for XRP, which rallied on the hype of regulatory changes and closure in the SEC case but failed to materialize on the actual changes and victory in the lawsuit.

Is XRP About to Drop?

Unlike the overall bullish sentiment and the multiple mind-blowing price predictions for XRPs future, Ali Martinez outlined a highly controversial take that foresees a substantial crash for the asset.

He believes the recent price pump-and-dump by XRP has created a head-and-shoulders pattern that could result in an immediate correction of up to 50%. If it materializes, the fourth-largest digital asset could plummet toward $1.25.

$XRP wild ride! After yesterday’s pump, a head-and-shoulders pops up on high timeframes. pic.twitter.com/3UM3vB2dG2