Usman Salis
With the SEC finally backing down from its years-long battle against Ripple, XRP is suddenly looking a lot more attractive. Crypto analyst Ali Martinez thinks this could push XRP (Ripple) toward an ambitious $12.6 price target - a move that seemed impossible just months ago.
Martinez points to XRP's massive technical breakout from a multi-year triangle pattern in November 2024, which set up the $12.6 target. The recent climb to $3 is just the beginning of what could be a much bigger surge. Now with regulatory headwinds gone, XRP can focus on pure price action.
XRP Technical Setup Points to $12.6 Target
XRP's breakout from that multi-year triangle last November was huge. When cryptocurrencies break out of these long-term patterns, they often move fast and far. Martinez's $12.6 target is based on the mathematical projection from that triangle formation.
What's really interesting is that XRP's run to $3 is just a small taste of what's possible. Triangle breakouts typically see the biggest moves after the initial surge, and XRP seems to be following that playbook perfectly.
SEC Drops Case Against XRP (Ripple)
August 11 was a game-changer for XRP holders. SEC Chairman Paul Atkins officially confirmed the regulator has closed its case against Ripple, ending years of legal uncertainty. Atkins backed up SEC Commissioner Hester Peirce's tweet about the development, making it crystal clear that this chapter is over.
The SEC chair said they're shifting focus "from the courtroom to the policy drafting table" to build "clear regulatory framework that fosters innovation while protecting investors." Ripple's chief legal officer Stuart Alderoty thanked Atkins for his leadership in "moving America towards clear rules of the road for crypto."
XRP ETFs Already Making Moves
While BlackRock said no to an XRP spot ETF, other players are jumping in. XRP ETFs are already live in Canada, Europe, and Brazil. Even BlackRock's iShares launched an XRP futures ETF in the U.S., showing real demand for XRP products.
Several companies have filed for U.S. spot XRP ETFs, though the SEC has been dragging its feet on approvals. With the Ripple case closed and new SEC leadership, those applications might finally get approved. If that happens, institutional money could flood into XRP, potentially pushing it toward Martinez's $12.6 target faster than expected.
Usman Salis
