Will XRP Price Price Recover Past $3 Soon As Elon Musk’s DOGE Targets SEC

Coinspeaker Will XRP$XRP Price Price Recover Past $3 Soon as Elon Musk’s DOGE Targets SEC

Despite the broader crypto market selloff pressure, XRP price XRP $2.57 24h volatility: 3.8% Market cap: $148.77 B Vol. 24h: $4.17 B has been showing strength with 5% weekly gains and flirting around $2.60 levels. Furthermore, the entire XRP community is cheering as Elon Musk’s Department of Government Efficiency (DOGE) has set its eyes on the US Securities and Exchange Commission (SEC) as it reviews several government agencies’ performance. In its message on the X platform, the official DOGE$DOGE SEC handle noted:

“DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud and abuse relating to the Securities and Exchange Commission.”

This development was enough to activate the XRP community which has been dealing with SEC’s regulatory crackdown for some while. Market analysts have started turning optimistic for an XRP price rally with the hope that Elon Musk’s DOGE exposes SEC inefficiency.

As we know, DOGE is a temporary independent agency led by Elon Musk formed with the goal of educing excessive regulations, eliminating wasteful spending, and streamlining the restructuring of federal agencies.

On the other hand, XRP’s parent firm Ripple Labs has been in a long-drawn battle with the US SEC for over four years. Analysts believe that the lawsuit settlement will finally happen under the Donald Trump administration thereby clearing the way for a spot XRP ETF approval by the end of 2025.

XRP Price to $3.0 Soon in the Near Term?

Earlier this week, crypto analyst Ali Martinez also noted the possibility of a bullish outcome if XRP confirms a cup-and-handle pattern. A successful breakout from this formation could pave the way for a significant rally, potentially driving XRP’s price toward the $3.35 mark.