The price of XRP soared more than eleven percent in a short period after it became clear that Ripple and the U.S. regulator, the Securities and Exchange Commission (SEC), had finally put an end to their long legal battle. Investors view this legal breakthrough as a significant turning point.
At the same time, analysts point to a solid technical pattern that suggests a potential target price of $8. With increasing volume and growing interest from institutional investors, XRP seems poised for a new phase.
A legal breakthrough opens doors
After nearly five years, the legal battle between Ripple and the SEC has concluded. Both parties have withdrawn their appeals to the New York Court of Appeals, officially closing the case. According to Ripple's legal director, Stuart Alderoty, the SEC unanimously approved the ruling and both parties will bear their own costs.
With this agreement, the persistent uncertainty that has affected XRP for years disappears. Institutional investors in the U.S., in particular, who were previously hesitant due to regulatory risk, should now have the door wide open.
Trading volume spikes during the price explosion
The price of XRP rose 12% in the last 24 hours, from $2.99 to $3.35. This price increase is not unexpected. Now that the legal battle with the SEC has been resolved, positive signals are rapidly accumulating.
Technical analysts see a clear bullish signal, a price pattern that usually precedes strong gains. Some models even point to a possible breakout towards $15, with $3.65 as the next resistance.
Additionally, Japanese SBI Holdings has applied for an ETF that will include XRP along with Bitcoin. If the influx of spot Bitcoin ETFs continues, XRP could benefit even more as a more volatile alternative product. Therefore, the sentiment around the cryptocurrency is changing rapidly.
What's next for XRP?
Investors are now eagerly awaiting the next step: Will U.S. institutions really get involved now that the legal hurdle has been removed? Potential ETF approvals in Japan or other markets are also being closely watched.
Meanwhile, the market is closely watching the resistance at $3.33. If XRP manages to break through it decisively, $3.65 will be the next target price in sight.$XRP