XRP jumped above $3 after the Ripple SEC lawsuit officially closed and bullish RLUSD adoption news; the move combined legal certainty, a Bullish stablecoin settlement and an SBI MOU, driving higher volume and a fresh test of the daily SMA 50.
XRP surged to $3.10 after the Second Circuit approved a Joint Stipulation of Dismissal.
RLUSD adoption and Bullish settling IPO in stablecoins lifted market sentiment.
Trading volume rose ~83% to $10 billion; key technical levels: daily SMA 50 ~$3.01 and SMA 200 ~$2.46.
XRP jumps above $3 after Ripple lawsuit closure and RLUSD adoption; read price drivers, key levels, and trading outlook — actionable market analysis.
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XRP rallied as the Second Circuit approved a Joint Stipulation of Dismissal of appeals on Aug. 7, marking the official closure of the Ripple SEC case. The news, combined with RLUSD adoption developments and macro cues, pushed XRP back above $3 with a sharp rise in trading volume.
The dismissal was filed jointly by both parties and, according to James K. Filan, the Joint Stipulation of Dismissal of appeals was approved by the Second Circuit. This procedural approval closed the long-running legal matter, removing a major regulatory overhang for Ripple and XRP.
Markets reacted to a cluster of bullish catalysts. Bullish announced its $1.15 billion IPO settlement would include stablecoins such as RLUSD. Ripple signed an MOU with SBI VC Trade to distribute Ripple USD (RLUSD) in Japan. Additionally, comments from Fed Chair Jerome Powell at Jackson Hole suggesting a possible September rate cut added positive macro sentiment.
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Source: https://en.coinotag.com/xrp-could-sustain-gains-above-3-after-ripple-lawsuit-closure-and-rlusd-adoption-moves/