XRP Price Targets $3 as Support $2 Holds, While Market Interest Rises
As the XRP price rebounded off the $2 support level, interest in Ripple increased yesterday due to rumors that the end of the SEC case may be imminent.
Ripple Coin Holds Strong at $2 Support Despite Market Weakness
Ripple (XRP) has been under pressure since mid-January, weighed down by a broader decline in cryptocurrency sentiment. The price has tested the $2 support level multiple times, but buyers have consistently stepped in, preventing further losses.
On Tuesday, XRP briefly dipped below $2, but strong buying interest helped it rebound, closing the day at $2.17. As market sentiment improved, Ripple continued to climb yesterday, gaining nearly 4% and touching $2.25. However, buyers faced resistance at the 20-day SMA (green), causing momentum to stall—a trend that coincided with Bitcoin stagnating and Ethereum slipping lower.
SEC Lawsuit Speculation Fuels Trading Volume Surge
Adding to XRP’s volatility, speculation surrounding the SEC vs. Ripple lawsuit has kept market interest elevated. Rumors surfaced yesterday suggesting that ongoing negotiations could soon lead to a resolution.
This led to an explosion in XRP trading volume, particularly on major exchanges such as Binance and Coinbase, where volume surged to 1.2 billion XRP—well above the usual daily average of 800 million XRP. This sharp increase in activity suggests that traders are positioning themselves ahead of a potential legal outcome, which could significantly impact XRP’s future price movement.
XRP’s Path to $3 and Beyond
With the $2 support holding strong, market momentum is shifting toward a possible breakout above $3. Historically, assets that fail to break lower after multiple tests of support tend to reverse higher, and XRP appears to be following this pattern.
If the SEC lawsuit reaches a favorable resolution, demand for XRP could surge further, pushing the price to new highs beyond $3. In the short term, breaking above the 20-day SMA resistance will be key to maintaining bullish momentum.
Ripple XRP Live Chart
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