August 14, 2025
11 11 11 AM
Latest Post
Scott Bessent Suggests Government Bitcoin Purchases Remain a Possibility Wall Street Joins Consumer Advocates to Call for Edit to GENIUS Act on Stablecoins U.S. Blacklists Crypto Network Behind Ruble-Backed Stablecoin and Shuttered Exchange Garantex Polygon’s POL Falls 6% As Inflation Shock Triggers Heavy Selling Jack Dorsey’s Block targets 10-year lifecycle for Bitcoin mining rigs Crypto Slide Spurs $1B Leverage Flush, But It’s a Healthy Pullback, Analysts Say NEAR Protocol Faces Heavy Institutional Selling, Recovers Slightly Amid Ongoing Volatility ATOM Faces Sharp Decline Amid High-Volume Selloff Ripple Exec on Why XRP Ledger Is ‘Uniquely Suited’ for Real World Asset Tokenization Ark Invest Buys More Than 2.5M Bullish Shares on Day of NYSE Debut

XRP Pushes Through $3 as Ripple-SEC Appeal Decision Looms

XRP rose 3% in the 24 hours through August 7, advancing from $2.91 to as high as $3.02 before closing at $2.98.
The move broke through multiple short-term resistance levels and coincided with high-volume buying activity, particularly on Korean exchanges.
Technical momentum aligns with key macro developments: the U.S. Securities and Exchange Commission is set to deliberate on Ripple’s appeal withdrawal, while Japan’s SBI Holdings has filed for a Bitcoin-XRP ETF.

News Background

The SEC is expected to deliberate Ripple’s decision to withdraw its appeal at 03:00 UTC on August 7, ahead of a broader ruling expected by mid-month. The hearing could lock in XRP’s non-security status under U.S. law—an outcome that removes a longstanding regulatory overhang.
Meanwhile, SBI Holdings’ ETF application highlights international institutional interest, with treasury diversification efforts gaining momentum from corporates reportedly pledging up to $1 billion in XRP purchases.

Price Action Summary

  • XRP traded in a 24-hour range between $2.91 and $3.02, a 3.7% band.
  • The strongest upward movement occurred between 15:00 and 16:00 UTC as the token surged from $2.95 to $3.02, propelled by buying volumes exceeding 110 million tokens, or three times the daily average.
  • The bulk of this flow originated from Upbit, which processed over $95 million in XRP trades. The asset later consolidated between $2.98 and $3.00 into the session close.

Technical Analysis

  • XRP broke through resistances at $2.87, $2.92, and $2.97 during the rally. The final hour showed a failed attempt to breach $3.02, with a reversal back to $2.98 as volume spiked to 2.11 million in a 10-minute window.
  • The $2.98 level is now acting as short-term support. If bulls defend this zone, upside targets remain at $3.05 and $3.14, with $3.25 in view should ETF approval or SEC commentary turn favorable.

What Traders Are Watching

  • The SEC’s 03:00 UTC session and whether Ripple’s appeal withdrawal gets formalized
  • Follow-through from SBI’s ETF filing and potential inflows
  • Price reaction to $3.05 if XRP re-tests local highs on Upbit and Binance volume trends as indicators of retail and institutional engagement
  • Any near-term regulatory commentary ahead of August 15 XRP legal status review

This post was originally published on this site

Please enter Coingecko Free Api Key to get this plugin works