XRP Surges 5.39% After Ripple-SEC Lawsuit Resolution, Market Eyes Institutional Growth and New Products

XRPUSDT experienced a 5.39% price increase over the past 24 hours, rising from a 24h open of $2.0832 to a current price of $2.1955 on Binance. This upward movement is primarily attributed to the official conclusion of the Ripple-SEC lawsuit, which brought regulatory clarity and boosted market confidence. The end of legal uncertainty has led to a positive shift in sentiment, with analysts noting the potential for increased institutional interest and product development, such as a USD-backed stablecoin and expanded blockchain interoperability through the XRP Ledger’s integration with Wormhole.

Currently, XRP is trading at $2.1955 with a 24-hour trading volume of $2.794 billion and a market capitalization of approximately $129.53 billion. The market remains cautiously optimistic, with price stability near the $2.20 level and key support and resistance at $2.09 and $2.14 respectively. Recent volatility has subsided as the market absorbs the implications of the lawsuit’s resolution and ongoing ecosystem developments.