Following the resolution of the long-standing legal dispute between SEC and Ripple, XRP price shows bullish momentum as it approaches its all-time high.
End of SEC and Ripple Dispute
On August 7, 2023, SEC and Ripple jointly filed to dismiss all appeals in the U.S. Court of Appeals for the Second Circuit, officially ending the years-long legal battle.
Current Resistance Levels for XRP
XRP price is currently 15% away from its all-time high set over eight years ago in January, nearing key resistance levels. The first significant resistance zone lies between $3.40 and $3.45, with the next at $3.70. Breaking above these levels could open the path to retesting ATH.
Growing Interest in XRP ETFs
Following the SEC case resolution, several major asset managers, including Grayscale, Bitwise, and 21Shares, have filed applications to launch XRP ETFs. Analysts rate the approval odds as very high and expect BlackRock to file for an XRP ETF soon.
The concluded dispute with SEC and increasing interest in XRP ETFs provide a positive backdrop for further price growth, bringing XRP closer to its all-time high.
