XRP surged 4.6% in the last 24 hours, reaching $2.99, as a combination of regulatory optimism, increased stablecoin activity, and technical breakouts energized the market.
With attention turning to upcoming legal milestones and Ripple’s deepening ecosystem integrations, XRP continues to outpace major peers like Bitcoin and Ethereum.
SEC case deadline revives hopes for resolution
A key procedural update in the long-standing SEC vs. Ripple case is due on August 15, when both parties are required to submit a joint status update. This has fueled renewed optimism across the XRP community. While no definitive settlement is guaranteed, speculation is growing that the regulator could pull back from further legal action — a move that would effectively reaffirm XRP’s non-security status under U.S. law.
That optimism has sparked a clear shift in investor behavior. XRP’s 4.6% rally outpaced Bitcoin’s 1.18% and Ethereum’s 3.55% gains during the same period, suggesting traders are rotating into assets with higher perceived upside tied to regulatory developments.
RLUSD adoption strengthens XRP’s network effects
Ripple’s recently launched RLUSD, a U.S. dollar-backed stablecoin built on the XRP Ledger, has quickly gained momentum. With a circulating supply now surpassing $600 million, RLUSD relies on XRP for transaction fees — a mechanism that naturally reduces XRP supply over time via token burns.
This growing ecosystem activity is also attracting institutional attention. Some analysts note that the stablecoin’s integration into enterprise payment flows could elevate XRP’s role as a utility token, especially in markets like India, where cross-border finance remains a priority.
Meanwhile, prediction markets like Polymarket have increased the probability of an XRP-based spot ETF being approved by the end of 2025. That outlook improved significantly following new digital asset guidelines released under the White House’s crypto oversight framework.
Technical momentum supports the rally
From a technical standpoint, XRP has re-entered bullish territory after reclaiming the 50% Fibonacci retracement level at $2.93, drawn from its July high of $3.65. The short-term trend is now supported by the 7-day simple moving average at $3.01 and the 30-day exponential average at $2.94.
Momentum indicators remain constructive. The Relative Strength Index (RSI) sits at 49.36, leaving ample room before overbought levels. However, MACD’s histogram at –0.079 suggests some underlying bearish pressure near the psychological $3.00 mark still lingers.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
