Following the end of the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), XRP's price has significantly increased, impacting the overall cryptocurrency market.
Impact of Legal Decision on XRP
The recent conclusion of the prolonged legal dispute removes one of the most significant uncertainties for XRP. This event may lead to positive changes in market sentiment towards this cryptocurrency.
Technical Analysis and Key Levels
Currently, XRP is trading at around $3.24, showing a sharp rise from recent lows of $3.05. Trading volume over the past 24 hours increased by 4%, with a market capitalization exceeding $184 billion. Technical analysis indicates XRP is breaking through the resistance at $3.20, and according to the RSI indicator, current conditions may be overbought. If the rally continues, this suggests the next resistance zone is near $3.50.
Outlook and Expectations for XRP
With the legal cloud lifted, demand for XRP may rise significantly. If buying pressure continues, further price strengthening with testing of multi-year highs near $4.00 is possible. However, if traders aggressively take profits, consolidation in the $3.00–$3.30 range could occur before the next rally.
With one of the main hurdles cleared for XRP, its path towards new highs appears clearer. Market sentiment could change dramatically, potentially leading to significant capital inflows.
