Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Ripple’s XRP is sitting at $3.38 after an 11.1% weekly gain, following renewed speculation after a big legal development. The rally started when Ripple and the SEC filed with the 2nd Circuit Court of Appeals to dismiss their appeals, which means the 5 year legal battle may be over.
Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed both sides agreed to pay their own fees – a big sign that the whole thing is wrapping up.
The SEC’s 2020 lawsuit alleged that XRP’s sales constituted unregistered securities offerings. In a 2023 landmark ruling, the court determined that XRP sales on exchanges like Coinbase and Binance were not securities transactions, though Ripple was found liable for certain institutional sales.
A proposed $50 million settlement earlier this year was rejected by the court, but the latest filing — with an SEC update due by August 15 — suggests a final resolution could be imminent. A legal settlement could clear the path for broader institutional participation, particularly if exchange-traded funds (ETFs) tied to XRP become a reality.
XRP Technical Breakout Targets $3.65
XRP price prediction is bullish as XRP is in action on the 2-hour chart, showing a breakout from a symmetrical triangle pattern formed after an 18% decline in late July. The breakout, supported by a strong ascending trendline, drove prices nearly 20% higher to challenge resistance at $3.38.
Momentum indicators align with this bullish bias — the MACD has flipped positive after a crossover, while the RSI holds near 60, suggesting room for further upside before overbought conditions emerge.
The consolidation just below resistance resembles a bull flag formation, hinting at another potential leg higher. The 50-period simple moving average (SMA), now at $3.12, is rising alongside the trendline, providing a critical support zone for dip buyers. If bulls secure a decisive close above $3.38, Fibonacci projections and measured move calculations point toward $3.51, followed by $3.65 — just shy of the 2018 all-time high.
- Immediate resistance: $3.38
- Next upside targets: $3.51, $3.65
- Key supports: $3.21, $3.12
- Breakout confirmation: Close above $3.38 on rising volume
ETF Momentum Could Drive Parabolic Gains
If the structure holds and especially if the SEC case goes in Ripple’s favor, ETF approval could be the catalyst. That would open the floodgates to institutional money, just like what happened with Bitcoin after the spot ETFs launched this year. Combine that with XRP’s technical momentum and we could see a parabolic move to and possibly above $4.00.
For traders, the setup is clear: a breakout above $3.38 with stops below $3.12 is a good risk reward. On the macro front, easing regulatory pressure and ETF inflows is a rare alignment of technicals and sentiment.
If all that lines up, XRP may not only retest 2018 highs but also set a new high, and be one of the top performers in the next crypto cycle.
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