What's Happening: The long-standing SEC lawsuit against Ripple is officially over. Both parties have formally dismissed their appeals, marking a monumental victory for Ripple and the broader crypto market. XRP's price reacted with an initial 11% surge.
For Traders: The game has changed. The focus is no longer on the lawsuit but on the market's response. While a flood of optimism is driving a narrative of potential XRP ETFs and institutional adoption, data shows whales have started taking profits, creating strong selling pressure.
What to Watch:
The Critical Line: Watch the $3.00 psychological support level. Holding this line is crucial. A sustained move above it could confirm the new bull run.
The Big Picture: On-chain data from Binance shows traders are betting big on XRP, with a high number of long positions. This optimism, however, can be a double-edged sword, as a lack of follow-through could lead to a "sell the news" event.
Our Take: The bulls now have the upper hand with regulatory clarity. But the battle between new capital inflows and whale profit-taking at key resistance levels will determine XRP's next major move. Keep a close eye on volume and price action around the $3.00 to $3.05 range.