XRP News Today: XRP Surges 6.5% Above $3 Amid Legal Developments and Rising Volume

XRP has surged above $3 for the first time since 2018, marking a notable milestone in its price trajectory. At press time, the token was trading at around $3.066, having gained 6.5% in the last 24 hours. The surge has been accompanied by a significant increase in trading volume, with reports indicating over $5.28 billion in 24-hour volume during the rally. This activity reflects growing interest from both retail and institutional investors, driven by optimism around ongoing legal developments involving Ripple and the U.S. Securities and Exchange Commission (SEC).

The price movement followed a brief dip to approximately $2.72 but quickly rebounded, highlighting the asset’s resilience amid broader market volatility. Analysts have pointed to the upcoming joint status update between Ripple and the SEC, scheduled for August 15, as a key factor influencing investor sentiment. A favorable legal outcome could lead to XRP being officially declassified as a security, providing much-needed clarity and potentially boosting investor confidence. This has led to a shift in capital flows, with funds being reallocated into XRP as a strategic positioning ahead of the decision.

In addition to legal considerations, Ripple's ecosystem developments have contributed to XRP's upward momentum. The launch of RLUSD, a stablecoin pegged to the U.S. dollar and built on the XRP Ledger, has expanded the token’s utility. The stablecoin’s circulating supply now exceeds $600 million, further enhancing XRP’s role in transaction fees and token burns. This has drawn attention from both retail and institutional investors, particularly in markets like India, where RLUSD is expected to facilitate enterprise payment flows.

From a technical perspective, XRP has broken out of a prolonged sideways pattern, with key resistance levels currently around $3.03–$3.10. Sustained movement above this range could potentially open the door to higher levels, including $3.20 and beyond. Short-term support is identified at $2.98 and $2.93, with a failure to hold above $2.90 potentially signaling a bearish reversal. Momentum indicators such as RSI, MACD, and Stochastic oscillators show a mixed but generally bullish bias, suggesting continued upward pressure in the near term.

While some analysts have projected long-term price targets of $5–$7 by 2025, these estimates are based on favorable legal outcomes and continued technical strength. Such forecasts remain speculative and should be interpreted as potential scenarios rather than certainties. The broader market is closely monitoring both the legal developments and technical performance of XRP to confirm the sustainability of the current bullish trend.

Compared to major cryptocurrencies like Bitcoin and Ethereum, XRP has shown stronger performance, emphasizing the convergence of legal, technical, and ecosystem-driven factors influencing its market dynamics. As the August 15 deadline approaches and the token tests key resistance levels, XRP remains a focal point for investors navigating the evolving cryptocurrency landscape.

Source: [1] Brave New Coin (https://bravenewcoin.com/insights/xrp-price-today-xrp-joins-bullish-trend-after-breaking-3-with-6-5-surge) [2] X (https://x.com/johnsquire) [3] X (https://x.com/whaleinsider) [4] AInvest (https://www.ainvest.com/news/xrp-news-today-xrp-surges-3-time-2018-strong-institutional-demand-2508/) [6] CoinCentral (https://coincentral.com/xrp-price-prediction-xrp-price-to-5-still-on-the-table-but-early-buyers-are-betting-big-on-this-ethereum-alternative/)