XRP Leaps to $3.10 After $125M Ripple-SEC Verdict—What’s Next by Year-End
After almost 5 years of uncertainty, Ripple’s lawsuit with the U.S. Securities and Exchange Commission has finally...
Quick overview
- Ripple's lawsuit with the SEC has concluded, with the Court of Appeals approving a joint dismissal and Ripple agreeing to a $125 million penalty.
- XRP's price surged over 8% to $3.10 following the decision, providing clarity for holders and allowing Ripple to focus on its payments network.
- Technical indicators show bullish momentum, with key support levels at $2.85 and $3.00, and potential resistance at $3.15 and $3.25.
- Analysts predict that with regulatory clarity, XRP could see further upside, potentially testing $3.40 short term and $5 long term.
After almost 5 years of uncertainty, Ripple’s lawsuit with the U.S. Securities and Exchange Commission has finally come to an end. The Court of Appeals approved the joint dismissal of appeals and the case is now closed. Ripple will pay a $125 million penalty, more than the $50 million settlement that was proposed and rejected by Judge Analisa Torres.
This brings much needed clarity for XRP holders and the market. The token responded quickly, up over 8% to $3.10 in the hours after the decision. For many investors, this removes a big overhang and allows Ripple to focus on scaling its payments network without regulatory distractions.
Technicals Support XRP’s Bounce
The charts look good. On the 4-hour chart, XRP broke above the descending trendline that had capped rallies all of August. This was accompanied by a bullish engulfing candle at $2.85 support, which is also the broader ascending trendline from July.
Momentum indicators are also confirming. RSI is at 58, well out of oversold and MACD is crossing up. Both the 50-EMA ($3.00) and 100-EMA ($3.04) are being tested and a close above these EMAs would be a big reversal signal.
Levels to watch:
- Support: $2.85, $3.00
- Resistance: $3.15, $3.25, $3.38
If we get above $3.25, momentum could accelerate to $3.38. If we can’t hold $3.00, we’ll go back to $2.85.
XRP Price Prediction for the Rest of the Year
With the lawsuit behind us, XRP now has a cleaner narrative. Analysts say with regulatory clarity, institutional adoption and technical breakouts, we could see more upside in the 4th quarter.
The setup on the chart is for higher lows and stronger bounces so bulls may be back in control. If momentum continues, XRP could test $3.40 short term and $5 long term. While there are targets beyond that, we should be cautious – crypto markets are volatile and price swings can be big.
For Beginners:
Enter long after a close above $3.10, stop under $2.85. Take profits at $3.25 and $3.38.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save