As cryptocurrency activity surges again, Ripple's native token, $XRP , is in the spotlight for companies. The final stages of the critical process between the US Securities and Exchange Commission (#SEC ) and Ripple are increasing the likelihood of a historic breakout in the XRP price. Meanwhile, Japanese giant SBI Holdings' Bitcoin-#XRP ETF application is driving interest in XRP.
📈 XRP Price Shocks: Staircase Reaches $3!
XRP surged 3% in 24 hours, climbing from $2.91 to $3.02. Reaching $2.98, XRP pushed past the psychological threshold of $3, reminding students of the possibility of a new rally.
The trading volume exceeding $95 million on the South Korea-based Upbit exchange, in particular, played a role in this peak. Koreans have virtually entered the race to buy XRP. Strong resistance levels in the $2.87-$2.97 range were broken one by one. However, when the $3.02 level failed to hold, the price retreated back to $2.98, and this area became short-term support.
⚖️ Final Twist in the SEC Case: Critical Appeal Decision on the Way
A decision by the SEC to withdraw the cooling-off order in the Ripple case could completely open up XRP's legal options. The SEC will reportedly evaluate this request later today, and the possibility that XRP will not be considered a security in the US boosts investor confidence.
This decision could be a turning point in the crypto industry. The SEC's reversal would set a significant precedent not only for Ripple but for the entire altcoin market.
🏦 ETF Wave: SBI Holdings Launches Bitcoin-XRP ETF
Another critical factor in the rise in XRP price was SBI Holdings' Bitcoin-XRP ETF application. The participation of these major Japanese-based financial institutions has increased corporate interest in XRP. According to some sources, major corporations are even planning to purchase billions of transactions with XRP for treasury management.
This development suggests that XRP may become more widely used as a payment and store of value in the global financial world.
🔍 Technical Analysis: What are the New Targets?
XRP bulls are currently defending $2.98. If it holds at this level:
Short-term targets: $3.05 and $3.14
Medium-term: $3.25 and above
Key level needed for continued upward movement: A clear break above $3.02
The RSI and volume decline are still in positive territory. However, the SEC is closely monitoring distributions and volume increases on exchanges.
🧭 Conclusion: Is a New Era Beginning for XRP?
The SEC decision and the ETF are of great importance not only for XRP's price but also for its future outlook. Ripple's freedom from regulatory burdens could transform XRP into a global financial instrument. Especially with the involvement of institutional actors, it appears possible that XRP could surpass its all-time high of $3.84 in 2021.
🔔 The next 48 hours could be critical for investors. XRP prices could experience sudden and significant price movements following the SEC decision and ETF news.