Ripple (XRP) Price Poised for Upside as Support Strengthens, SEC Ruling Nears
The support zone at $2 is getting stronger for Ripple (XRP), while the fundamental situation is improving, which points higher in the coning weeks.
Since reaching its all-time high of $3.40 in mid-January, Ripple (XRP) has failed to sustain any significant breakout, as broader cryptocurrency market sentiment has remained bearish but the situation is improving. Over the past few weeks, XRP has formed a strong support base around $2, with the upper boundary of this range at $2.20.
XRP Price Chart Weekly – The 20 SMA Adding to the Support
Despite failing to make higher highs, the 20 SMA (gray) has consistently provided support, catching up to the price. While XRP has pierced below this moving average, but it has never managed to close beneath it, which is a positive technical signal. Last week, a hammer candlestick pattern formed on the chart, indicating a potential bullish reversal.
SEC Lawsuit Nears Resolution, XRP Could Receive Favorable Ruling
The ongoing SEC vs. Ripple lawsuit appears to be approaching a conclusion, with recent reports suggesting potential relief for Ripple. According to two SEC sources, the penalties could be significantly slashed, and XRP might receive regulatory classification as a commodity.
These developments come shortly after FOX News revealed that Ripple’s legal team had pushed for better settlement terms, leading to a delay in negotiations. According to them, Ripple is challenging the $125 million fine issued in a court decision. Additionally, there is growing optimism that Ripple may avoid major fines altogether, as the SEC has been easing enforcement actions against cryptocurrency firms since Donald Trump appointed a more crypto-friendly chairman.
Ripple Expands into Digital Asset Custody & Institutional Services
Beyond legal battles, Ripple is actively expanding its presence in digital asset custody. The company recently registered the trademark “Ripple Custody” with the USPTO, signaling its entry into the institutional-grade asset storage sector. This move comes as institutional adoption of cryptocurrencies accelerates, with the custody market projected to exceed $20 trillion.
Meanwhile, ss the first blockchain platform to obtain regulatory certification for cross-border payments from Dubai, Ripple has accomplished a significant milestone in the world of international payments.
Conclusion: XRP Holding Strong, Return Above $3 Soon?
Technical indicators suggest XRP is not willing to drop below $2, reinforcing the idea that the ongoing price consolidation could lead to a bullish breakout.
With Ripple’s legal battle nearing resolution, institutional adoption accelerating, and favorable regulatory developments emerging, XRP appears to be positioning itself for a strong recovery. If these factors align, a push above $2.20 could trigger renewed momentum toward previous highs.
Ripple XRP Live Chart
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