For over a year, XRP has been caught in a range between $0.28 and $0.55, surviving a 20.86% drop in May 2022 and resisting the bears. On April 29, the asset attempted to break out when it hit a high of $0.5850 but declined back below $0.55 a few days later. Crypto analysts have speculated that XRP may soar by 300%-30,000% when its 100MA crosses the 200MA and 300MA on the 2-day timeframe or when the SEC case is resolved in favor of Ripple. Meanwhile, some experts have also predicted an extension of this range between $0.28 and $0.55 if either of these two events is delayed.

XRP has recently experienced several runs as part of broader market-wide rallies and favorable court petitions filed by Ripple. Although these have provided some relief, XRP has continued to face staunch resistance at $0.55 each time it attempts to break out of the range. For example, CryptoBull recently pointed to the asset's range while sharing an XRP chart on a weekly time frame, without setting a target time for the breakout. Similarly, another pseudonymous analyst called Egrag said XRP will take off when its 100MA crosses the 200MA and the 300MA on the 2-day timeframe.

Amid the long-standing XRP rally and gloom, Ripple Labs remain hopeful that the SEC case will be favorably resolved and pave the way for a crypto mega-run. The company has expressed legal confidence concerning the SEC case, with some legal experts even opining that the agency stands on shaky grounds. Analysts, however, await a concrete timeline for the asset to break out from the range and launch its potential surge.



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