09.08.2025 13:54

XRP surged to $3.34 on August 8th, experiencing a remarkable price explosion fueled by significant buying pressure, particularly from South Korean investors, before settling slightly lower on the 9th. This dramatic increase, representing a weekly gain exceeding 12% and a peak not seen since late July, positioned XRP within striking distance of its all-time high of $3.65.

The catalyst for this rally was the definitive conclusion of the protracted legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). A joint dismissal of appeals, filed directly with the Second Circuit Court of Appeals, officially brought the lengthy case to a close. This landmark decision, confirmed by Ripple's General Counsel Stuart Alderoty, removed a substantial overhang of uncertainty that had plagued XRP since late 2020. Now, market attention is riveted on the anticipated reaction from institutional investors, especially within the United States.

Intense buying activity on South Korean cryptocurrency exchanges played a pivotal role in XRP's meteoric rise. Analysts observed a staggering volume exceeding 10 million XRP traded within a mere 30 minutes following the announcement of the lawsuit's dismissal. This surge in demand, characterized as frenzied buying, contrasted with the relatively calm activity observed on major global exchanges like Binance, which followed the Korean market's lead.

Despite the initial buying frenzy, some market participants engaged in short selling in the perpetual futures market. However, a notable absence of large sell orders in spot markets on exchanges such as Binance and Coinbase suggests continued bullish sentiment and potential for further upward momentum, provided demand remains strong. The dramatic market capitalization rebound, approaching $200 billion – surpassing that of companies like Uber – underscores the significant global interest in XRP's future.