$XRP $XRP XRP Coin Performance This Week: Bullish Momentum Builds

XRP has demonstrated a strong upward trend this week, currently trading around $2.35. This represents a significant increase of approximately 6-8% over the past seven days. The positive performance is fueled by a combination of factors, including growing bullish sentiment in the broader crypto market and developments related to Ripple's ongoing legal battle with the SEC.

Notably, there's increasing optimism surrounding a potential settlement between Ripple and the SEC. A recent joint filing indicated a proposed settlement figure, which the market has interpreted positively. This development has reduced some of the uncertainty that has weighed on XRP's price for an extended period.

Technically, XRP has broken through key resistance levels and is trading above its short-term trend lines. Analysts suggest that a sustained move above the $2.30 mark could pave the way for further gains, with potential targets in the $2.50 - $2.90 range. Conversely, failure to hold current support levels could lead to a retracement towards $2.00.

Adding to the positive momentum, recent data shows a substantial surge in XRP Ledger payment volume and active accounts, indicating increased network usage. Furthermore, there's growing anticipation of institutional interest in XRP, potentially mirroring the demand seen for Bitcoin ETFs.

Overall, XRP has exhibited robust performance this week, driven by positive news flow and technical breakouts.