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

XRP rose 3% within the 24 hours via August 7, advancing from $2.91 to as excessive as $3.02 earlier than closing at $2.98.
The transfer broke via a number of short-term resistance ranges and coincided with high-volume shopping for exercise, notably on Korean exchanges.
Technical momentum aligns with key macro developments: the U.S. Securities and Exchange Commission is about to deliberate on Ripple’s attraction withdrawal, whereas Japan’s SBI Holdings has filed for a Bitcoin-XRP ETF.

News Background

The SEC is anticipated to deliberate Ripple’s determination to withdraw its attraction at 03:00 UTC on August 7, forward of a broader ruling anticipated by mid-month. The listening to may lock in XRP’s non-security standing beneath U.S. regulation—an final result that removes a longstanding regulatory overhang.
Meanwhile, SBI Holdings’ ETF software highlights worldwide institutional curiosity, with treasury diversification efforts gaining momentum from corporates reportedly pledging as much as $1 billion in XRP purchases.

Price Action Summary

• XRP traded in a 24-hour vary between $2.91 and $3.02, a 3.7% band.
• The strongest upward motion occurred between 15:00 and 16:00 UTC as the token surged from $2.95 to $3.02, propelled by shopping for volumes exceeding 110 million tokens, or 3 times the every day common.
• The bulk of this stream originated from Upbit, which processed over $95 million in XRP trades. The asset later consolidated between $2.98 and $3.00 into the session shut.

Technical Analysis

• XRP broke via resistances at $2.87, $2.92, and $2.97 throughout the rally. The ultimate hour confirmed a failed try and breach $3.02, with a reversal again to $2.98 as quantity spiked to 2.11 million in a 10-minute window.
• The $2.98 degree is now performing as short-term help. If bulls defend this zone, upside targets stay at $3.05 and $3.14, with $3.25 in view ought to ETF approval or SEC commentary flip favorable.

What Traders Are Watching

• The SEC’s 03:00 UTC session and whether or not Ripple’s attraction withdrawal will get formalized
• Follow-through from SBI’s ETF submitting and potential inflows
• Price response to $3.05 if XRP re-tests native highs on Upbit and Binance quantity traits as indicators of retail and institutional engagement
• Any near-term regulatory commentary forward of August 15 XRP authorized standing evaluation