XRP Defies Market Challenges as Ripple and SEC Resolve Legal Battle

Key Points

1. XRP's price declined by 5% between August 8-9, dropping from $3.34 to $3.20, with significant selling volume observed.

2. The $3.20 level is identified as a key support, while resistance is noted between $3.31 and $3.33.

3. The five-year legal dispute between Ripple and the SEC concluded with both parties requesting the case's dismissal, each bearing their own legal costs.

4. A short-term positive pattern has formed above the $3.28 level, with potential implications for future price movements.

5. The resolution of the legal case may influence market dynamics, with attention on fund activities of Japan-based institutions and potential impacts on U.S. markets.