XRP Smashes $3 Barrier as Ripple-SEC Showdown Nears Climax
XRP rockets past $3—defying skeptics and SEC shadows—as the crypto world holds its breath for Ripple's legal endgame.
The countdown begins
With the appeal decision looming, traders are either loading up or bracing for impact. No middle ground when regulators play whack-a-mole with blockchain innovation.
A rally built on binary outcomes
This isn't your grandma's slow-and-steady investing. XRP's surge mirrors the crypto playbook: thrive on chaos, pivot on rumors, and laugh all the way to the bank (until the SEC freezes your accounts).
The final act
Win or lose, Ripple's battle will rewrite crypto's regulatory playbook. Meanwhile, Wall Street still can't decide if blockchain is a threat or just another asset to repackage and sell with 2% management fees.
News Background
The SEC is expected to deliberate Ripple’s decision to withdraw its appeal at 03:00 UTC on August 7, ahead of a broader ruling expected by mid-month. The hearing could lock in XRP’s non-security status under U.S. law—an outcome that removes a longstanding regulatory overhang.
Meanwhile, SBI Holdings’ ETF application highlights international institutional interest, with treasury diversification efforts gaining momentum from corporates reportedly pledging up to $1 billion in XRP purchases.
Price Action Summary
- XRP traded in a 24-hour range between $2.91 and $3.02, a 3.7% band.
- The strongest upward movement occurred between 15:00 and 16:00 UTC as the token surged from $2.95 to $3.02, propelled by buying volumes exceeding 110 million tokens, or three times the daily average.
- The bulk of this flow originated from Upbit, which processed over $95 million in XRP trades. The asset later consolidated between $2.98 and $3.00 into the session close.
Technical Analysis
- XRP broke through resistances at $2.87, $2.92, and $2.97 during the rally. The final hour showed a failed attempt to breach $3.02, with a reversal back to $2.98 as volume spiked to 2.11 million in a 10-minute window.
- The $2.98 level is now acting as short-term support. If bulls defend this zone, upside targets remain at $3.05 and $3.14, with $3.25 in view should ETF approval or SEC commentary turn favorable.
What Traders Are Watching
- The SEC’s 03:00 UTC session and whether Ripple’s appeal withdrawal gets formalized
- Follow-through from SBI’s ETF filing and potential inflows
- Price reaction to $3.05 if XRP re-tests local highs on Upbit and Binance volume trends as indicators of retail and institutional engagement
- Any near-term regulatory commentary ahead of August 15 XRP legal status review
