XRP News Today: XRP 2% Away From New All-Time High Amid Legal Battle

XRP, the cryptocurrency developed by Ripple Labs, is poised to reach a new all-time high (ATH), with its price just 2% away from surpassing its previous peak. This potential milestone has sparked a debate among investors and analysts about which ATH should be considered the true benchmark. The cryptocurrency market is notoriously volatile, and XRP's price movements reflect this volatility, with significant fluctuations in recent months.

The debate surrounding XRP's ATH arises from the cryptocurrency's history of multiple price peaks. In 2017, XRP reached an ATH of $3.84, driven by a surge in interest in cryptocurrencies and blockchain technology. Since then, the price of XRP has declined, and the cryptocurrency has struggled to regain its previous highs. Recent price movements have brought XRP close to its previous ATH, but questions remain about the sustainability of these gains and whether XRP can maintain its momentum in the long term.

One significant factor contributing to the debate is the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The SEC has accused Ripple Labs of selling unregistered securities, and the outcome of this case could have substantial implications for XRP's future. A guilty verdict for Ripple Labs could lead to a decline in XRP's price as investors lose confidence. Conversely, a successful defense by Ripple Labs could result in a surge in XRP's price, as investors view the cryptocurrency as a more legitimate investment option.

Additionally, the increasing competition in the cryptocurrency market adds another layer of complexity to the debate. With the emergence of new cryptocurrencies and blockchain projects, investors have more options than ever before. XRP faces stiff competition from other major cryptocurrencies such as Bitcoin and Ethereum. However, XRP has several advantages, including fast transaction speeds and low fees, which have helped it maintain its position as one of the top cryptocurrencies by market capitalization. These factors could also contribute to XRP achieving a new ATH in the future.

If XRP can close the daily above $3.40, it is likely to move towards the $3.84 global ATH. Breaking this level with volume could see the next targets at $4.20, $5.00, and $5.40–$5.60, depending on volume sustainability. However, a failure to break and hold above $3.40 could result in a short-term rejection and retest of support at $3.00–$3.20. Despite the challenges, XRP is showing strong bullish continuation signals, and many traders are closely watching for a confirmed breakout into new highs.