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The crypto market is once again gaining momentum, fueled by positive sentiment in altcoins. Bitcoin is hanging above key support levels, Ethereum continues to strengthen, and standout performances from Solana, Cardano, Stellar, and Chainlink are drawing attention. The recent XRP price surge has reignited investor interest in the altcoin market.
However, it's XRP that takes the center stage, up 5.31% in the last 24 hours, briefly reaching $3.03 before settling back down to the $3.00 range. Its rally came with increased volume, more than triple the daily average, signaling heightened activity from large-scale investors and institutions. Analysts believe the XRP price surge is tied to growing speculation around regulatory clarity.
South Korean investors have mainly fueled the surge. XRP became the most traded asset on South Korea's largest crypto exchange with a total 24-hour trading volume exceeding $500 million. South Korean trading volume outpaced the global trading averages and added momentum across international markets.
XRP has recently cleared multiple key resistance price points of $2.87, $2.92, and $2.97, triggering a new wave of buying from institutional and retail traders. The Relative Strength Index (RSI) is also forming higher lows, thus indicating growing strength.
The long-awaited XRP-SEC settlement may finally bring an end to legal uncertainty surrounding Ripple. Analysts suggest that if XRP can break through resistance at $3.14, then XRP may quickly race toward $3.48 to $3.65 and close toward the all-time high at $3.66.
Further bolstering investor excitement is the ongoing litigation between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Early reports indicated Ripple could resolve the dispute with a fine of $125 million, while both sides would essentially end the appeals.
Korean crypto trading volumes have surged, with XRP leading the altcoin rally in South Korea. The next closed-door SEC meeting on August 7 is seen as a potential turning point, with a settlement report deadline of August 15 looming for each party.
A decisive XRP resistance breakout could pave the way for further gains, mainly if the Ripple ETF Approval follows. Regulatory clarity would effectively remove a key overhang for XRP and create widespread institutional adoption, paving the way for XRP-related ETFs to emerge as they remain widespread.
Also Read: XRP Price Prediction: Expected to Hit $9 in Sept 2025 with 200% Surge
Although there is optimism, some analysts are slightly more cautious. On-chain metrics show the MVRV ratio has triggered a death cross; historically, this is usually an indication of short-term corrections. However, analysts like EGRAG Crypto remain bullish, with long-term targets reaching as high as $48.90 and a median projection of $27.
If XRP can sustain its position above $3.00 and break past $3.33, it could retest its all-time highs. However, if XRP drops below $2.80, it may provide an incentive for some short-term selling pressure. All eyes are now on the SEC’s August 7 meeting, potential ETF approval updates, and macroeconomic data such as ISM Services PMI and jobless claims.
Given the mix of general momentum, legal inflection, and bullish technicals, XRP is set up for an explosive breakout.
