Key Insights
XRP gains 10.97% in 24 hours to trade at $3.33, boosted by Ripple’s legal victory against the SEC after a five-year case.
Analysts forecast a potential XRP rally to $10, citing historical patterns, renewed investor confidence, and growing institutional interest.
Derivatives activity surges, with options volume climbing over 1,300%, signaling heightened trader participation following the lawsuit conclusion.
XRP posted the largest gains among the top ten cryptocurrencies on August 8, rising 10.97% in 24 hours to trade at $3.33. The rally came after the conclusion of Ripple’s legal dispute with the United States Securities and Exchange Commission, which had lasted nearly five years.
Market analysts have released bullish forecasts following the legal victory. GalaxyBTC projected XRP could reach $10, citing a recurring pattern in which the asset formed higher lows between 2014 and 2017 before breaking resistance. The same pattern has emerged between 2020 and 2025, coinciding with the duration of the SEC lawsuit.
Potential Support Breakout
Galaxy BTC suggested that a sustained move above $3.35, turning the level into support, could trigger further gains. At $10, XRP’s market capitalization would exceed $580 billion based on a supply of 58 million coins. ChartingGuy noted XRP is repeating a 2017 price fractal, predicting a continued uptrend toward $8. CrediBULL Crypto added that surpassing $3.80 may occur soon, marking the start of the next bullish phase.
Source: TradingView
The lawsuit’s closure has attracted strong market interest. Many traders expect institutional investors to begin accumulating XRP, now that it is no longer considered a security. This shift could broaden market participation beyond retail investors and increase liquidity.
Surge in Derivatives Activity
Data from Coinglass shows XRP derivatives volumes rose 197% in the past day to $18.26 billion. Options activity recorded the sharpest jump, climbing more than 1,300% to $1.54 million. Open interest in XRP futures also increased by 20% to $8.82 billion, reflecting growing speculative interest.
Analysts believe that the combination of technical patterns, renewed market confidence, and institutional interest could sustain XRP’s upward momentum. The potential addition of XRP to corporate balance sheets may further support its price trajectory in the months ahead.
