#XRP XRP is trading at $3, gaining 4.39% in the past 24 hours, making it the strongest performer among the top ten cryptocurrencies by market capitalization.

While this rebound offers some relief, it comes after a bruising week in which the token lost 7.54% of its value. Trading volumes reflect a cooling from the July surge, with 24-hour turnover down 24.14% to $5.66 billion.

Nevertheless, XRP remains up 34.84% over the past month, underscoring that buyers are still willing to accumulate at these levels despite heightened volatility and the broader risk-off sentiment weighing on digital assets.

A near-term catalyst looms in the form of a joint status update due August 15 in the SEC v. Ripple case. The procedural nature of the filing should not be overstated, speculation across institutional and retail circles is growing that the SEC may seek to de-escalate litigation, a move that could effectively reaffirm XRP’s non-security status under U.S. law. Such an outcome would likely alter the regulatory overhang that has capped institutional inflows into the asset class.