SEC Commitment Fuels XRP’s Push Toward All-Time High

As the crypto market focuses on US inflation data, XRP continues trend downturn toward $3.00.

Policy formulation may change after the Ripple case, according to US SEC Chair Paul Atkins.

The minor futures Open Interest drop to $7.88 billion shows weakening speculative demand.

Ripple (XRP) fell to $3.18 on Tuesday as crypto market investors awaited US inflation data.

The cross-border money remittance token fell roughly 8% from the previous week's highest of $3.38 and 15% from its July 18 record high of $3.66.

The path of least resistance may stay negative if futures market indications deteriorate, raising the odds of XRP extending the run below $3.00.

Commissioner Hester Peirce said in an X post that the SEC "now can concentrate on creating a clear regulatory framework for crypto," and Atkins implied that the SEC will now focus on policy formulation.

The $50 million settlement was reached when the SEC Commissioners opted to abandon the Ripple litigation. Last week, both parties requested appeals be dropped.

After the legal settlement, XRP rose past $3.00 to $3.38 on Friday. The $3.40 resistance was probed but not overcome, postponing a breakthrough toward its record high.

Ripple is extending its infrastructure to accommodate tokenization of real-world assets, stablecoin payments via RLUSD, and utility for XRP with its main products, On Demand Liquidity (ODL) and Ripple Payments, as US regulations improve.

After rebounding to $8.5 billion on Friday, futures OI falls on Tuesday. According to CoinGlass, the OI—the notional value of outstanding futures or options contracts—averages $7.9 billion.

The upward moving 50-day EMA at $2.89, 100-day EMA at $2.67, and 200-day EMA at $2.40 support XRP's positive outlook. These levels may absorb selling pressure if the trend downturn accelerates below $3.00.

If crypto market sentiment improves, a comeback above $3.00 may occur in following sessions. Traders watch $3.40 barrier and $3.66 record high.


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