XRP News Today: Ripple CEO's Tattoo Boosts XRP 15% to $2.19

Ripple's XRP has seen a significant surge in price, reaching $2.19, following a public declaration of support from Ripple CEO Brad Garlinghouse. Garlinghouse's commitment was symbolized by an XRP-themed tattoo, which he revealed on July 13, 2023, marking a legal victory for the asset. His tweet, stating he is "1,000%" committed to the project, resonated strongly within the XRP community. Influencers and analysts noted the gesture as a rare and authentic endorsement, signaling long-term conviction rather than mere marketing.

Garlinghouse's actions have boosted morale among XRP holders and provided clarity on Ripple's direction as it exits its legal battle. The company has decided to formally withdraw its cross-appeal in the long-standing case with the U.S. Securities and Exchange Commission (SEC), which is expected to do the same. This development brings closure to a legal saga that began in 2020 over $1.3 billion in alleged unregistered XRP sales. The court upheld a $125 million penalty for institutional sales, significantly less than the SEC’s original $2 billion demand, which Ripple’s legal chief, Stuart Alderoty, called a strategic win. This resolution removes regulatory uncertainty and positions Ripple to accelerate growth initiatives using XRP as a utility token across cross-border payments and decentralized finance.

From a technical standpoint, XRP has broken out of a multi-week descending triangle, reclaiming momentum above $2.19. The price structure is now defined by a series of higher lows supported by a rising trendline from the June 21 low near $1.92. The breakout was confirmed with a bullish engulfing candle and sustained trade above the 50-period EMA at $2.15. The MACD histogram is flipping green with its lines diverging upward, typically an early sign of strengthening bullish momentum. XRP now eyes resistance at $2.27, $2.33, and $2.40. Traders eyeing a move toward $3.50 will be watching for continuation above $2.40 with volume confirmation.