XRP News Today: XRP Surges 3.8% Amid Regulatory Developments and ETF Hopes

XRP witnessed a sharp increase in price amid shifting global market dynamics, with its value rising from $2.91 to $3.02 within 24 hours as of August 7. The surge was most pronounced between 15:00 and 16:00 UTC, during which the price jumped from $2.95 to $3.02, approaching three times the average daily trading volume. On the Upbit exchange, XRP transactions reached $95 million during the peak trading period [1]. By the end of the session, the price settled between $2.98 and $3.00, indicating investor caution and a wait-and-see approach ahead of key regulatory and market developments.

This price movement coincided with Ripple’s ongoing legal proceedings with the U.S. Securities and Exchange Commission (SEC). A scheduled review of Ripple’s appeal withdrawal decision on August 7 at 03:00 UTC intensified discussions about whether XRP would be classified as a security. Meanwhile, Japan-based SBI Holdings advanced its Bitcoin–XRP exchange-traded fund (ETF) application, which is expected to drive institutional interest and further validate XRP’s utility in diversified asset management portfolios. Analysts speculated that large institutions might acquire approximately $1 billion worth of XRP, contributing to the asset’s growing adoption [1].

Technically, XRP broke through key resistance levels at $2.87, $2.92, and $2.97 but failed to maintain above $3.02 before retreating to $2.98. The $2.98 level is now seen as a critical short-term support zone. If the price holds, the next resistance targets are $3.05 and $3.14. The outcome of the ETF application and SEC announcements are likely to have significant implications for XRP’s price trajectory [1].

Market participants are closely watching the upcoming developments, particularly the expected resolution of Ripple’s legal case with the SEC, which could provide regulatory clarity and unlock institutional trading in XRP. Ripple CEO Brad Garlinghouse emphasized that regulatory clarity could positively impact XRP and the broader cryptocurrency market. The outcome of these legal and institutional milestones is expected to influence both short- and medium-term price movements [1].

While XRP’s recent rally has been fueled by legal progress and whale activity, analysts remain cautious. Some predict that XRP could reach $4 by October 1, driven by anticipation of a spot ETF decision, while others caution that a deeper correction may occur if key resistance levels fail to hold [2]. In parallel, corporate adoption of XRP is increasing, with several public companies incorporating it into their treasury strategies as a reserve asset, signaling a shift from a transactional to a strategic financial instrument [2].

Despite XRP’s momentum, the broader market is showing a preference for blockchain projects with tangible utility. Investors are increasingly allocating capital toward platforms like Remittix, which offers real-world use cases such as international crypto-to-fiat transfers and real-time foreign exchange conversion [2]. This shift reflects a broader trend in the crypto space, where scalability, compliance, and measurable economic impact are becoming key priorities for investors.

As the regulatory landscape for XRP continues to evolve, market participants remain focused on the outcomes of legal and institutional developments. Whether XRP can sustain its upward movement or face a correction will largely depend on how these events unfold in the coming weeks. In the meantime, the broader cryptocurrency ecosystem is witnessing a clear shift toward utility-driven projects that align with long-term investment goals [2].

Source:

[1] XRP heating up: Surge in trading volume hints at another bullish run (https://m.economictimes.com/news/international/us/xrp-heating-up-surge-in-trading-volume-hints-at-another-bullish-run/articleshow/123119615.cms)

[2] XRP Is Becoming a Corporate Reserve Asset (https://www.ccn.com/education/crypto/xrp-corporate-reserve-asset-7-firms-to-watch/)