XRP's market shows positive momentum following the conclusion of its long-standing legal battle with the SEC, leading to renewed interest from institutional investors.
Technical Analysis and Price Targets
XRP has completed a bullish retest after breaking out from a falling wedge and is currently trading around $3.28. Technical analysis indicates next resistance levels at $3.375, $3.51, and $3.70, with a target of $3.60.
End of the Legal Battle with SEC
Ripple Labs and the SEC have reached an agreement to conclude the legal battle, creating a more stable environment for XRP. This development has drawn renewed attention from institutional investors who were previously cautious due to legal uncertainties.
Analyst Projections and On-Chain Activity
Several analysts believe that XRP could reach price targets of $6 to $8 if the current structure continues. However, despite price growth, XRP's on-chain activity has decreased, suggesting that the current rally is driven more by large-volume trades.
XRP continues to demonstrate positive trends amid the resolution of legal disputes and optimistic analyst projections, although user activity on the platform has declined.
