With the SEC-Ripple legal dispute officially over, XRP price is gaining bullish momentum, moving toward its ATH, with just two key resistance levels in the way.
Summary
- SEC and Ripple jointly dismissed all appeals, officially ending the years-long legal battle.
- XRP price is edging closer to the critical resistance at $3.40–$3.45.
- Breaking above $3.70 could trigger a run toward XRP’s ATH of $3.84.
- Major asset managers including Grayscale, Bitwise, 21Shares, and Canary Capital have filed XRP ETF applications.
- Analysts expect BlackRock to file for an XRP ETF soon, now that the legal uncertainty is out of the way.
With the long-running legal battle between the U.S. SEC and Ripple Labs officially ending on August 7, after both parties jointly filed to dismiss all appeals in the U.S. Court of Appeals for the Second Circuit, the Ripple (XRP) price chart is now aligning for the retest of its ATH, which was set 8 years ago in January. The price is currently just 15% away from that peak.
Though XRP price has pulled back slightly after its 11% surge on August 7 due to profit-taking, it remains firmly above the EMA 20, indicating that short-term bullish momentum still persists.
The price is now approaching two key resistance levels before it can retest the ATH. The main and most significant hurdle is the $3.40–$3.45 zone, which has acted as strong resistance — rejecting XRP price both during the latest surge following the legal dispute resolution and earlier in January. Currently, XRP is inching closer to this zone, trading around $3.24 at press time.
The next resistance lies at $3.70, a smaller but important barrier where price topped out in mid-July. Breaking above $3.70 would clear the path for a move toward the ATH.
XRP ETF race heats up and BlackRock join
Beyond the SEC case resolution, another major bullish catalyst is that several major asset managers — including Grayscale, Bitwise, 21Shares, and Canary Capital — have filed applications to launch XRP ETFs. Analysts rate the approval odds as very high, with some placing the odds around 95%.
Additionally, some analysts say that BlackRock may also file for an XRP ETF soon, having likely waited for the legal clarity now provided by the case’s resolution.