Here’s Why XRP Price is up 11% All of a Sudden

XRP has jumped 11.71 percent in the past 24 hours, moving from just above $3.00 to $3.35, based on CoinMarketCap data. Market capitalization now stands at $199 billion, while 24-hour trading volume surged 174.96 percent to $11.66 billion. The price rally gathered momentum late Thursday, with a sharp upward move that carried through early Friday, marking the highest level since late July.

The sudden price spike came immediately after the U.S. Securities and Exchange Commission and Ripple Labs agreed to drop their appeals in the Second Circuit Court of Appeals. According to market analysts, this legal resolution ends years of uncertainty over XRP’s regulatory status. The decision is seen as paving the way for more institutional participation in the U.S. market.

Technical analysis supports the bullish sentiment, showing a well-formed flag pattern that could point to targets between $8 and $15 over the long term. The move above the $3.33 support zone has strengthened the chance of retesting the near-record high of $3.60.