XRP rallied early Tuesday, gaining more than 3% in 24 hours to trade at $2.53, fueled by renewed trader interest and speculation that Ripple’s long-running legal battle with the SEC may be nearing an end.
Key drivers behind the XRP rally
Despite broader market pullbacks—Bitcoin and Ethereum both dipped—XRP defied the trend with a sharp uptick in both price and trading volume:
- 24-hour trading volume surged 150% to $10.59 billion, indicating heightened liquidity and market activity.
- Open interest in XRP derivatives rose 14%, signaling increased speculative positioning.
- Over 70% of traders on Binance are betting on further price increases, according to Coinglass.
The momentum stems primarily from reports of a formal settlement agreement between Ripple Labs and the SEC, a move that could bring long-awaited regulatory clarity to the asset.
Market outlook: Will XRP hit $3?
Technical analysts suggest XRP’s price is approaching key resistance levels:
- On the hourly chart, XRP is testing resistance around $2.5650.
- A daily close near $2.6461 could open the door to a breakout toward $2.80–$3.00 before week’s end.
Crypto influencer Sjuul Follings described the trend as “bullish,” noting XRP’s ability to hold support and project upward momentum.
Broader macro support
In addition to the Ripple news, XRP has benefited from improving global market sentiment following a U.S.-China tariff de-escalation, which has lifted risk appetite across financial markets.
As of Tuesday morning, XRP remained one of the top-performing major cryptocurrencies, outperforming Bitcoin (down 1%) and Ethereum (down 1.36%).
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