Crypto trader and analyst Scott Melker believes the token isn’t done yet, though its next move depends on more than just momentum.

Speaking recently about XRP’s future, Melker pointed to several catalysts behind its previous rally. One of the biggest, he said, was the long-awaited regulatory clarity that came after a court decided XRP isn’t a security. That decision helped remove a massive burden from the asset, giving it space to rise and re-enter investor portfolios.

But the relief rally might not be enough on its own to sustain another leg up. Melker argued that XRP will need a fresh narrative to capture attention — a spark beyond legal wins and ETF speculation. The market, he suggested, has already priced in the good news.

Meanwhile, Ripple’s legal standoff with the U.S. Securities and Exchange Commission still isn’t over. A proposed settlement that would have cut Ripple’s penalty from $125 million to $50 million hit a snag when Judge Analisa Torres rejected it, stating the conditions didn’t meet legal standards.

On the technical side, analyst Ted Pillow has identified signs of a potential continuation. XRP recently cleared a descending resistance trend and now sits on a key support level. If buying pressure holds, the asset could aim for the $2.9 to $3.0 range. But failure to maintain current levels might drag it back toward previous lows.

For now, XRP’s path forward will likely depend less on courtrooms and charts, and more on whether it can capture the imagination of the market once again.

The post Can XRP Still Surprise the Market? appeared first on Coindoo.

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Filed under: Bitcoin - @ May 18, 2025 12:01 am