[XRP continues to show positive dynamics, reaching $3.30 with a 4% increase over 24 hours and 12% for the week. These changes occur in the wake of the conclusion of the legal dispute between Ripple Labs and the SEC.]
[Recovery of XRP Support]
[XRP has regained the support level at $3.15 and is now testing resistance that could lead to a breakout toward $3.40. Trading volume reached $8.2 billion, indicating interest in the token from large institutional traders.]
[Role of Legal Resolution]
[The recent price rise follows the resolution of Ripple's lengthy legal battle with the SEC, with both parties formally dropping their appeals. This has sparked renewed interest in XRP from institutional investors who were previously hindered by legal uncertainties.]
[Technical Analysis and Market Signals]
[Analysts note significant similarities between the current price action and XRP's 2017 rally. Technical analyst MikybullCrypto stated: "$XRP is about to fly to $6-$8 and then peak." XRP is recovering support and testing a descending trend line, with a confirmed move above $3.32 potentially opening the way to the next resistance level in the $3.40-$3.41 range.]
[Given the current conditions, including technical potential and improved legal clarity, analysts believe XRP could reach a price range of $6 to $8. However, the decline in transaction volume indicates that the recent rise is more driven by institutional positioning than widespread retail trading.]
