XRP Bulls Rebound from Historic Support, SEC Appeal Drop Hints at Rally
1min read XRP, the native cryptocurrency of the Ripple network, has recently garnered significant attention from the crypto community due to its sharp rebound from a historic support zone. This price action suggests potential bullish momentum for the digital asset.
Renowned market analyst Javon Marks highlighted this development on X (formerly Twitter), noting that sellers (bears) were rejected at a level not seen since 2017-2018. The bulls demonstrated a dominant presence, indicating that they could be poised to take control despite recent price action.
After reaching the $1.9 to $2.0 range, XRP experienced an aggressive push from buyers, triggering a sharp reversal. This key level, previously established during 2017-2018, served as a solid support, allowing bulls to step in and drive prices upward. Currently, XRP is struggling to break past the $2.5 resistance, but with growing bullish sentiment, a decisive breakout could be on the horizon.
Despite the renewed bullish momentum, XRP has faced heavy selling pressure, leading to price fluctuations. CoinGecko data shows that XRP dropped 17.9% over the past week, settling around $2.21. Analyst Ali Martinez revealed that whale investors offloaded over 370 million XRP within just 96 hours, fueling price instability. Large whale movements often trigger volatility, as massive sell-offs create temporary bearish pressure.
However, XRP’s long-term outlook remains optimistic, especially in light of regulatory developments. Former SEC official John Reed Stark suggested that the U.S. Securities and Exchange Commission (SEC) is likely to drop its appeal in the ongoing Ripple lawsuit. If this prediction holds, it could mark a significant victory for Ripple, reinforcing investor confidence and potentially triggering a major rally for XRP.
Looking ahead, key levels to watch include the support at $1.9 - $2.0 (historical 2017-2018 level) and the resistance at $2.5 (major breakout zone). If bulls manage to push past $2.5, XRP could be set for a strong continuation toward higher price targets. However, increased whale activity and market-wide conditions will play a crucial role in determining the next move for the digital asset.
