New prospects for XRP may emerge against the backdrop of the conclusion of Ripple Labs' legal battle with the SEC and improving market sentiments.
End of SEC Conflict
Recent news reports that Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially concluded their legal battle. Both sides agreed to drop their appeals, solidifying Judge Analisa Torres’s July 2023 ruling as the final decision. This removes uncertainties regarding XRP’s price and regulatory standing in the U.S. For institutional investors, the elimination of legal ambiguity may lead to greater adoption of XRP and a possible return to trading on exchanges that were previously hesitant.
Improved Market Sentiment from US-China Truce
According to BBC reports, the U.S. President signed an executive order extending the existing tariff pause on Chinese goods for another 90 days, with Beijing responding in kind. This agreement helps maintain tariffs at 30% for imports from China and 10% for imports to China, avoiding a damaging escalation. Historically, easing trade tensions supports optimistic sentiments in both equity markets and digital assets. For XRP, this stable macroeconomic backdrop could support increased buying pressure.
Current Technical Structure and Predictions
The daily chart shows XRP consolidating around the $3.14 mark, sitting close to the middle line of the Bollinger Bands. The $3.10 level is emerging as a key short-term support zone. Above it, the upper Bollinger Band near $3.34 aligns with immediate resistance. A breakout above $3.35 on strong volume could pave the way toward the $3.80 to $4.00 region. Current Heikin Ashi candles indicate waning selling pressure after the late-July correction, suggesting that bearish momentum is losing strength.
Ripple’s legal victory removes a significant headwind in its history, while the extended US-China trade truce enhances overall market mood. Technically, XRP is positioned at a pivot point where breaking short-term resistance could trigger upside movement. As long as $3.10 holds, the path of least resistance seems upward.
