XRP has seen a sharp surge in price following a major legal twist – both Ripple and the U.S. Securities and Exchange Commission have withdrawn their appeals in the long-running lawsuit.
This unexpected move has removed one of the biggest sources of uncertainty surrounding the cryptocurrency, sending bullish signals across the market.
At the time of writing, XRP is trading near $3.24 on Binance, marking a strong intraday rally from recent lows around $3.05. On the broader market, data shows the token is up 4% in the past 24 hours, with a market cap exceeding $184 billion and trading volume surging above $5.1 billion.
Technical Outlook
The 30-minute chart shows a clear breakout, with XRP smashing through the $3.20 resistance level. RSI readings have spiked above 85, indicating short-term overbought conditions, while MACD momentum remains strongly bullish. This combination suggests that although a minor pullback could occur, overall momentum is firmly in favor of the bulls.
If the rally sustains, the next key resistance zone lies around $3.50, followed by $3.80 – a level not seen since earlier in the year. On the downside, $3.10 is now a crucial support area that could determine whether the breakout holds.
What’s Next for XRP?
With the legal cloud finally lifting, market sentiment toward XRP could shift dramatically. Historically, positive legal resolutions in the crypto space have led to strong capital inflows, and in XRP’s case, the effect could be amplified given its utility in cross-border payments and ongoing institutional partnerships.
If buying pressure continues, XRP could retest its multi-year highs near $4.00 in the coming months. A decisive breakout above this level could open the door for a run toward $5.00 before year-end, especially if broader market conditions remain bullish.
On the flip side, if traders take profits too aggressively, the token might consolidate in the $3.00–$3.30 range before attempting another breakout.
In any case, with one of its biggest hurdles now behind it, XRP’s path toward new highs has never looked clearer.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-surges-after-ripple-and-sec-end-legal-battle-whats-next/