XRP price rose 3.2% after Ripple dropped its cross-appeal in the legal case against the SEC.
Ripple confirmed the legal status of XRP remains unchanged, with focus shifting back to its business growth.
Analysts expect XRP to test $2.07 support before a potential climb toward $2.25 and possibly $2.69 soon.
Ripple announced it has officially withdrawn its cross-appeal in its long-running legal case with the U.S. Securities and Exchange Commission. The news that was later confirmed as true by Ripple CEO Brad Garlinghouse saw the XRP market experience new hopes and shoot up in value by as much as 3.2% in 24 hours. The token reached a point of buying up to 2.18 dollars, with the legal battle being close to the end.
Brad Garlinghouse announced the news through his social media as Ripple is prepared to devote itself to its original purpose. The Chief Legal Officer of Ripple, Stuart Alderoty, stated that the company was happy with the fact that the current legal situation was fulfilled. He underlined that the legal position of XRP is not changed: the court conditions provided Ripple with clear choices.
Analysts Monitor XRP’s Support Level at $2.07
Despite the market’s positive response, traders are closely observing key support levels. Market analyst CasiTrades pointed to a short-term dip in XRP’s price, reaching $2.10 before rebounding slightly to $2.145. This movement aligned with anticipated patterns. According to the analyst, the $2.07 level holds significance due to overlapping Fibonacci retracement points and technical markers, which are closely followed by algorithmic traders.
Although the token faced selling pressure, technical signals indicate that the correction is not a breakdown. The Relative Strength Index has shown bullish signals across multiple timeframes. CasiTrades highlighted that weakening selling pressure and historical patterns suggest the current price action is a temporary pullback rather than a reversal.
Potential Upside Toward $2.25 and $2.69 in View
Following the expected support test near $2.07, analysts see room for further upward movement. If XRP holds this support, a rebound could push prices toward $2.25 and potentially to $2.69 in the short term. These targets are backed by alignment in trend indicators and resistance projections across technical charts.
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