08.08.2025 04:16

The protracted legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has officially concluded. Both parties jointly withdrew their appeals, bringing a decisive end to a case that began in 2020 and captivated the cryptocurrency world. This development was confirmed by Ripple's Chief Legal Officer, Stuart Alderoty, who announced the mutual dismissal of appeals following a SEC vote, succinctly stating, "The end… and now back to business."

The market responded immediately to this news. Within 24 hours, XRP experienced a significant price surge, jumping 12% to approximately $3.34. However, while this short-term price action is encouraging, a cautious outlook remains warranted. Weekly charts reveal a concerning bearish divergence, suggesting potential weakness in the coming weeks. Analysts emphasize this doesn't guarantee an immediate price drop, but caution against assuming sustained upward momentum in the mid-term.

Currently, XRP is finding support around the $2.90 Fibonacci level, exhibiting robust buying pressure between $2.90 and $3.00. Should the price fall below $2.90, support levels around $2.75 and a stronger zone between $2.55 and $2.62 exist. On the other hand, resistance is anticipated between $3.35 and $3.40. A break above this resistance could trigger a more substantial rally, potentially pushing prices toward $3.47, and possibly even higher to the $3.80–$4.30 range. This upward trajectory, however, hinges on XRP maintaining its position above crucial short-term support levels. The sustained bullish momentum depends heavily on this.