Ripple (XRP) price could be on the verge of a major breakout if the SEC vs. Ripple lawsuit settlement leads to the US government buying $125M worth of XRP

Cryptocurrency XRP (XRP) is rising as rumors grow louder that Ripple Labs is close to settling its long running legal battle with the U.S.

The case, which has dragged on since December 2020 when the SEC accused Ripple of raising over $1.3 billion through unregistered sales of its closely related XRP token, may finally be wrapping up — though not without last-minute wrangling over its terms.

XRP’s price is eyeing a breakout from a classic chart pattern in the near future after Ripple acquired its first-ever license in the Middle East. XRP price chart hints at possible 46% gains XRP (XRP) has been consolidating inside a descending triangle pattern since topping out at its seven-year high of $3.

Payments utility is also expected to drive greater stablecoin adoption in the UAE for their real time settlement value proposition.

Ripple, the company behind the XRP (XRP-USD) cryptocurrency, secured regulatory approval to offer crypto payments and services in the United Arab Emirates, making it the first blockchain-enabled payments provider licensed by the Dubai Financial Services Authority,