XRP Gains 4% as Ripple-SEC Settlement Spurs Institutional Buying
Main Idea
XRP gains 4% as the settlement between Ripple and the SEC spurs institutional buying, with daily volumes increasing by 208%.
Key Points
1. XRP rose from $3.15 to $3.25 within a 24-hour period, with a mid-session rally pushing it to $3.30 before settling at $3.25.
2. Resistance was confirmed at $3.30, while support held at $3.25-$3.26, with orderly profit-taking observed.
3. Daily trading volumes surged by 208% to $12.4 billion following the legal clarity from the Ripple-SEC settlement.
4. Institutional inflows increased, supported by enterprise adoption news such as Blue Origin’s integration of XRP payments and SEC approval of Ripple’s enhanced Regulation D.
5. Traders are watching for breakout attempts above $3.30 and the effects of trade and rate policy shifts on XRP's performance.
Description
Token extends post-settlement rally on strong mid-session momentum, with volumes topping 140 million tokens as buyers test $3.30 resistance. Technical Analysis Overview XRP rises 4% in the 24-hour period ending August 13, climbing from $3.15 to $3.25 within a $0.20 range (6% volatility). The bulk of gains occur between 12:00 and 20:00, when price moves from $3.15 to $3.30 on volume exceeding 140M units. Resistance forms at $3.30 as buying momentum slows, while support consolidates at $3.25-$3.26...
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