Market expert Bobby A claims that the SEC's appeal notice regarding XRP is not a warning of sustained price falls, despite a 10% drop since October 2. He thinks that a sell-the-news mindset causes many investors to pass up possibilities. According to Bobby A, there are indications on XRP's chart that point to an impending market rise.

Historical Context Suggests XRP Resilience

Bobby A maintained that XRP would rise in spite of the SEC appeal by referencing past occurrences. He cited the 1,772% gain in XRP that followed the SEC's 2020 lawsuit against Ripple, which classified XRP as a security. Even in the face of regulatory uncertainty, XRP increased from $0.11 to a peak of $1.95 throughout that period. Bobby A added, "the worst news comes at the bottom," and mentioned how hopeful the XRPETH and XRPBTC charts appear.

Bullish Outlook, XRP Poised for Significant Gains

According to Bobby A's optimistic technical analysis, XRP might rise 803% to $4.23 in price. He pointed out that XRP has been consolidating since 2017 and that traditionally, it has tended to rise after the halving of Bitcoin. Bobby A said that XRP is "tightly wound" around important indicators like the moving average and Bollinger Band, suggesting that a breakout is about to occur, drawing comparisons between the present cycle and the bull run of 2016–2017.

XRP’s Fundamentals Signal Strong Potential

Bobby A thinks that XRP's fundamentals are positive because of its forthcoming ETF, stablecoin launch, practical value, and legal certainty. Even in light of the SEC's appeal, Ripple CEO Brad Garlinghouse affirmed that XRP's non-security status is unaltered. Bobby A pointed out that these developments might increase the price of XRP by more than 803%. Ripple intends to introduce a stablecoin soon, increasing the usefulness of the XRP Ledger. He added that if Donald Trump wins in November, regulations may become clearer and the SEC's legal objections to Ripple may come to an end. As of the time of publication, XRP was down 1.72% over the previous day, trading at $0.5237.