XRP jumped above $3 after the Ripple SEC lawsuit officially closed and bullish RLUSD adoption news; the move combined legal certainty, a Bullish stablecoin settlement and an SBI MOU, driving higher volume and a fresh test of the daily SMA 50.
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XRP surged to $3.10 after the Second Circuit approved a Joint Stipulation of Dismissal.
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RLUSD adoption and Bullish settling IPO in stablecoins lifted market sentiment.
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Trading volume rose ~83% to $10 billion; key technical levels: daily SMA 50 ~$3.01 and SMA 200 ~$2.46.
XRP jumps above $3 after Ripple lawsuit closure and RLUSD adoption; read price drivers, key levels, and trading outlook — actionable market analysis.
What happened to XRP after the Ripple SEC lawsuit officially closed?
XRP rallied as the Second Circuit approved a Joint Stipulation of Dismissal of appeals on Aug. 7, marking the official closure of the Ripple SEC case. The news, combined with RLUSD adoption developments and macro cues, pushed XRP back above $3 with a sharp rise in trading volume.
How did the Ripple SEC lawsuit reach closure?
The dismissal was filed jointly by both parties and, according to James K. Filan, the Joint Stipulation of Dismissal of appeals was approved by the Second Circuit. This procedural approval closed the long-running legal matter, removing a major regulatory overhang for Ripple and XRP.
Why did XRP jump above $3 and what other developments supported the move?
Markets reacted to a cluster of bullish catalysts. Bullish announced its $1.15 billion IPO settlement would include stablecoins such as RLUSD. Ripple signed an MOU with SBI VC Trade to distribute Ripple USD (RLUSD) in Japan. Additionally, comments from Fed Chair Jerome Powell at Jackson Hole suggesting a possible September rate cut added positive macro sentiment.
Those factors combined to lift price momentum and liquidity, with XRP moving from a low of $2.78 to a high of $3.10 on Friday.
What are the current technical levels and trading metrics for XRP?
Price action and indicators are front and center for traders. XRP reclaimed the daily SMA 50 at about $3.01 after slipping below it earlier in the week. At press time, XRP was trading around $3.03, up 8.54% in 24 hours. Volume increased sharply, up approximately 83% in the last 24 hours to roughly $10 billion.
Immediate resistance levels to watch are recent highs near $3.38 and $3.66. A sustained flip of the SMA 50 into support would favor additional upside. Conversely, a drop below $3 could target the daily SMA 200 near $2.46.
Frequently Asked Questions
How did the court dismissal affect XRP liquidity and trading volume?
The dismissal removed a major regulatory overhang, prompting renewed buying interest and an 83% increase in 24-hour trading volume to about $10 billion, which supported the move above $3.
Is RLUSD adoption the main driver behind the price move?
RLUSD adoption was a material bullish catalyst alongside the lawsuit closure. Bullish’s decision to settle its IPO in stablecoins including RLUSD and an MOU with SBI VC Trade in Japan added practical demand assumptions for RLUSD.
Key Takeaways
- Legal clarity: Joint Stipulation of Dismissal approved by the Second Circuit removed a key uncertainty.
- Stablecoin adoption: Bullish and SBI-related RLUSD developments improved on-chain and institutional narratives.
- Technical outlook: Reclaiming the daily SMA 50 near $3 is bullish; failure to hold $3 risks a move toward the SMA 200 at ~$2.46.
Conclusion
In summary, XRP’s move above $3 was driven by the official closure of the Ripple SEC appeals process, RLUSD adoption news, and supportive macro comments. Traders should monitor technical levels, volume, and official announcements for the next directional cues. For continued coverage and updates, follow COINOTAG market reports and official filings referenced in this article.
