In the last 24 hours, XRP has been one of the gainers among the most prominent cryptocurrencies. At press time, XRP registered an intraday high of $0.5346, a substantial 13.84% gain from the 24-hour low of $0.4696.

Furthermore, XRP’s new value reflects a more substantial growth of 22.86% from the bottom of $0.4351 witnessed on April 13. This new commendable trajectory follows the emerging optimism in the market after the Bitcoin network has undergone the much-awaited halving.

Before the Bitcoin halving, multiple online pundits projected various values XRP may attain in the altcoin season expected to follow. For instance, an analyst on X using the pseudonym Ash Crypto proclaimed that XRP would rally by 460% to $3 by next year. Moreover, this analyst set a higher target of an 845% surge to take XRP to $5 by September 2025.

Meanwhile, other commentators, like Mikybull, suggested a $3 price point would be a near-term gain for XRP rather than next year. Notably, many of these analysts base their conclusions on established patterns observed on XRP’s chart.

On the other hand, some pundits forecasted potential values for XRP based on non-technical factors such as developments in the SEC vs. Ripple lawsuit.

Recently, Ripple’s CLO Stuart Alderoty addressed the growing rumors surrounding a pre-trial conference in the SEC lawsuit. Many members of the XRP community speculated the development could lead to a settlement, potentially impacting the XRP price.

Alderoty clarified that a final pretrial conference would not be held anymore as the SEC had already dropped its charges against Ripple CEO Brad Garlinghouse and Chainman Chris Larsen.

In the meantime, Ripple is set to submit its response to the SEC’s remedies-related brief on April 22, 2024, which sought nearly $2 billion in penalties. However, this motion will be submitted under seal, with a redacted version anticipated to be filed by April 24, 2024.