Is XRP About to Explode Past $3.60? Chart Says Yes

After the retest, XRP moved higher and is currently trading near $3.28. Fibonacci extension levels indicate the next potential resistance areas at $3.375, $3.51, and $3.70. The technical setup now shows a continuation pattern that could drive XRP toward the $3.60 target.

Legal Resolution Boosts Sentiment

XRP’s recent price action also follows the resolution of its long-running legal battle with the US. Securities and Exchange Commission (SEC). Ripple Labs and the SEC have agreed to drop further appeals, bringing the case to a close. This development has created a more stable environment for XRP, drawing renewed attention from institutional investors.

As of press time, XRP was trading at $3.25, showing a 1% gain in the past 24 hours and a 11% increase over the last week. The 24-hour trading volume stands at approximately $9 billion. With the legal uncertainty removed, exchanges and investors appear more confident in XRP’s market potential.

Analysts Point to Higher Price Targets

Several analysts have shared projections based on historical trends and chart patterns. Crypto analyst MikybullCrypto noted that XRP’s current structure “looks similar to the breakout seen before the 2017 bull run,” suggesting the price could reach $6 to $8 if the pattern continues. The asset has moved past the $2.60–$2.80 zone, and long-term moving averages are trending upward.

Another analyst, Crypto Eagles, mentioned that XRP has regained the $3.15 support after filling a Fair Value Gap. According to their assessment, a breakout above $3.32 could push the price toward $3.40. However, they added that “holding above $3.15 is key,” as dropping below it could bring the price back to $3.10 or $3.00.

On-Chain Activity Slows as Price Rises

Despite the recent price recovery, XRP’s on-chain activity has declined. Data from Glassnode shows 1.44 million transactions on August 12, which is lower than the early July peak of 2.2 million transactions. Since mid-July, daily transactions have generally decreased even though the price has continued to move higher.

Meanwhile, this trend may indicate that the current rally is driven more by large-volume trades or institutional positioning rather than increased network activity. While the price action is positive, the dip in transaction counts suggests that user engagement on the XRP network has not yet returned to earlier levels.