XRP Battles SEC, Tests $3.00 Resistance

XRP Faces Crucial Test at $3.00 as SEC Case Continues

XRP, the native cryptocurrency of the Ripple network, is currently facing a critical test at the $3.00 resistance level. Analysts suggest that a successful break above this level could confirm a bullish trend and potentially drive the price up to $4.30-$6.40. However, a failed breakout may result in a pullback towards $1.90-$2.00, testing key support levels.

Meanwhile, Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) continues to unfold. The case has seen several delays and complexities, with both parties adhering to existing rulings. Ripple recently filed a cross-appeal against the SEC's own appeal, adding another layer of uncertainty to the situation. The latest extension of Ripple's filing deadline to April suggests that commissioners Mark T. Uyeda and Hester Peirce may need to assess the next steps carefully.

In the short term, XRP's price has dipped, with a 2.88% decline in the last 24 hours and a 6.90% drop over the past week. Despite these dips, XRP's market capitalization stands at $151.37 billion, reflecting its significant presence in the cryptocurrency market. Analysts suggest that XRP is approaching key resistance zones at $2.75, $2.83, $2.91, and $3.00, with a successful break above these levels needed to confirm a real upward trend.

XRP's immediate resistance sits at $3.00, a historically critical level from previous all-time highs. If the asset closes above this mark on a monthly timeframe, analysts expect a breakout toward the next Fibonacci extension levels, with price targets ranging from $4.30 to $6.40. These levels align with Fibonacci retracement projections of 1.414 and 1.618, further supporting a bullish scenario if momentum remains strong.

Long-term projections suggest that XRP could reach $33-$60 if momentum strengthens. A sustained monthly close above $3.00 would reinforce bullish sentiment and potentially drive the price toward even higher