XRP News Today: Ripple Faces $2.3-$2.35 Resistance Zone Amid Legal Wins

Ripple is currently navigating a critical resistance zone between $2.3 and $2.35, a level that could potentially cap its ongoing uptrend. The price action at this juncture will be pivotal in determining XRP’s next significant move. The cryptocurrency has recently broken above its 100-day moving average at $2.2 and completed a successful pullback, entering a decisive range between the 100-day and 200-day moving averages. This suggests a potential period of consolidation, as the price approaches a substantial resistance zone between $2.3 and $2.35, which aligns with the 200-day moving average at $2.36 and the upper boundary of a prolonged descending wedge pattern.

This confluence of technical resistance is expected to act as a strong barrier, potentially halting the current uptrend. A rejection from this level could initiate a corrective move. However, if the asset manages to break above this region, it could spark a fresh rally targeting the $2.5 psychological resistance. In the lower timeframe, Ripple has been steadily climbing within an ascending price channel, recently finding support at the $2.2 zone, the channel’s lower boundary. The price is now approaching the long-standing $2.3 resistance level, which has historically capped upside moves. A valid breakout above this range is essential to shift the market structure bullishly. However, based on current price behavior and historical rejections at this level, a pullback or consolidation is the more likely short-term scenario.

The price of XRP has entered a critical range between the 100-day and 200-day moving averages, indicating a potential period of consolidation. This phase follows a strong rally, with the cryptocurrency oscillating around $2.27. The asset has maintained a position above its previous all-time high of $1.90 for over eight months, suggesting a robust bullish consolidation. This stability is seen as a precursor to a significant upward movement, with experts predicting that XRP could be on the verge of a major rally. According to the analyst's forecast, XRP is in the midst of a long consolidation phase, which could trigger a rally toward $32 or more. This forecast is based on technical patterns, increased network activity, and ongoing institutional developments. The Elliott Wave model identifies the upward move from $0.50 to $3.60 as Wave (i), with the recent sideways trend viewed as Wave (ii). The next leg, Wave (iii), is estimated to reach between $8 and $12, followed by Wave (iv) potentially bringing the price to $32 by 2026. This projection is supported by Bitcoin's current trend, which is also expected to see significant gains.

The legal landscape for Ripple has improved with the conclusion of the SEC's 4-year lawsuit. Ripple has agreed to drop its cross-appeal, reducing legal uncertainty and boosting confidence in XRP's outlook. Additionally, Ripple has applied for a national banking charter and a Federal Reserve master account, which could allow it to offer services like FDIC-insured accounts and access to FedNow and Fedwire. These developments are seen as a turning point for Ripple, potentially supporting XRP's integration with traditional finance. Ripple's growth strategy includes issuing RLUSD, a stablecoin, and expanding RippleNet, which are expected to increase XRP's use in payment systems and cross-border transfers. The company has also formed partnerships with over 50 countries to support CBDC-related services, positioning XRP as a bridge asset in digital currency exchanges. These developments, along with increased network activity and institutional inflows, have raised the chances of XRP ETF approval to 87%, which could be a key trigger for further price movement in the coming months.