- XRP jumped to $2.51 after the SEC ended its legal battle against Ripple, boosting investor confidence and market valuation.
- Analysts identified the $2.66 mark as crucial, with a potential move above signaling a stronger price rally in the coming sessions.
- XRP ETF approval odds rose to 80 percent following regulatory shifts and the SEC’s decision to halt its Ripple case appeal.
XRP’s market outlook shifted as the U.S. Securities and Exchange Commission officially withdrew its appeal against Ripple Labs. This move followed a long-running legal battle and has now cleared a major hurdle for Ripple’s operations in the United States.
Following the SEC’s retreat, XRP recorded a strong gain. As of press time, XRP traded at $2.51, reflecting an 11.79 percent daily increase and a 13.87 percent gain over the past week. With a total circulating supply of 58 billion, XRP’s market capitalization reached approximately $146 billion.
Technical analysts remain divided on XRP’s next price move. Popular analyst Dark Defender maintains a bullish view, citing strong indicators on daily charts. He believes the legal clarity strengthens XRP’s long-term outlook but emphasizes that price momentum must confirm investor sentiment.
Caution Amid Optimism in the Market
The analyst EGRAGCRYPTO approaches XPRL with a more careful perspective. The pattern of XRP alongside its double bottom trend or new downward wave movement became apparent to him. He marked the $2.65 to $2.70 price range as the major barrier for XRP breaking through resistance. A bullish trend can emerge from the XRP price crossing $2.66 followed by steady resistance between $2.97 and $3.40 pushing the market toward the $5 to $8 range.
The market anticipation for an exchange-traded fund of XRP has risen substantially. After the SEC withdrew its legal challenge there are stronger indicators of an upcoming XRP exchange-traded fund. XRP exchange-traded fund has experienced significant approval rate increases from 16 percent to 80 percent based on data from Polymarketcap.
Regulatory Shifts Boost Market Sentiment
The market moves forward thanks to new regulatory changes that the United States government is implementing at a broader level. Since taking control as the new head of the SEC the organization has presented increasingly lenient policies regarding digital assets. XRP ETF applications are currently going through regulatory review and decisions regarding them are anticipated during the period of mid-October.
The latest political transformations have influenced how regulators conduct their activities. Donald Trump’s return as former President brought intense pressure to stop the SEC from imposing strict regulations on the cryptocurrency market. Political changes and a new direction taken by the SEC have led to the dismissal of multiple crypto-related enforcement actions.
