XRP News Today: XRP Surges Past $3 Amid Regulatory Clarity and Institutional ETF Filing

XRP surged past $3 on August 7, marking a significant price level amid heightened volatility and strategic buying pressure. The cryptocurrency advanced 3% within 24 hours, rising from $2.91 to as high as $3.02 before consolidating near $2.98 [1]. This upward movement broke through key short-term resistance levels at $2.87, $2.92, and $2.97, signaling growing confidence among traders [1]. The price action coincided with a sharp increase in trading activity, particularly on Korean exchanges, where Upbit facilitated over $95 million in XRP trades [1].

The most pronounced buying momentum occurred between 15:00 and 16:00 UTC, with XRP surging from $2.95 to $3.02 on the back of trading volumes exceeding 110 million tokens—nearly three times the daily average [1]. However, a failed attempt to maintain the $3.02 level led to a reversal to $2.98, as volume spiked to 2.11 million tokens in a 10-minute span [1]. The $2.98 level is now a critical support zone, with further gains contingent on the ability of buyers to defend it and push toward $3.05 and beyond [1].

The price rally coincided with two major macro-level events. First, the U.S. Securities and Exchange Commission is set to deliberate on Ripple’s decision to withdraw its appeal at 03:00 UTC on August 7, with a broader ruling expected by mid-August. A favorable outcome could solidify XRP’s non-security status under U.S. law, resolving a regulatory uncertainty that has long weighed on its price [1]. Second, Japanese firm SBI Holdings filed for a Bitcoin-XRP ETF, indicating growing institutional interest in the asset [1]. This development aligns with broader global trends of institutional adoption and treasury diversification, with reports suggesting significant XRP purchasing commitments from corporations [1].

The move above $3 has drawn attention from traders and investors who are closely monitoring key triggers. These include the SEC’s deliberation on Ripple’s appeal, the potential follow-through on SBI’s ETF filing, and XRP’s reaction to $3.05 if it re-tests recent highs [1]. Additionally, market participants are tracking volume trends on major exchanges like Upbit and Binance to gauge the participation of both retail and institutional buyers [1].

The broader context suggests that XRP’s regulatory trajectory and institutional adoption are becoming increasingly intertwined. With a potential resolution of the SEC case looming, XRP could face renewed momentum if the ruling supports its non-security classification. In parallel, the Bitcoin-XRP ETF filing reflects a strategic shift by global financial institutions to integrate cryptocurrencies into their portfolios [1]. This dual catalyst—regulatory clarity and institutional demand—positions XRP for potential near-term strength, provided buying momentum continues to outpace selling pressure.

Source: [1] XRP Pushes Through $3 as Ripple-SEC Appeal Decision Looms (https://www.coindesk.com/markets/2025/08/07/xrp-pushes-through-usd3-as-ripple-sec-appeal-decision-looms)