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Experts Say XRP Attempting Breakout from 7-year Triangle Again Amid Lawsuit Victory

Abdulkarim Abdulwahab
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Experts Say XRP Attempting Breakout from 7-year Triangle Again Amid Lawsuit Victory

Expert market watchers believe XRP is again attempting to crack its seven-year symmetrical triangle formation amid an ongoing bullish frenzy.

XRP has been stirring significant sensation in the crypto market over the past few hours as the long-running lawsuit ended in what many view as a favorable manner for Ripple.

As of the latest update, XRP ranks as the third most heavily traded cryptocurrency, excluding stablecoins. Its 24-hour trading volume exceeds $5.42 billion, placing it just behind market leaders Ethereum and Bitcoin. Notably, the current volume marks one of the highest trading volumes observed in recent months.

XRP briefly reached $0.6408 before stabilizing around $0.61, fully recovering from the Monday crypto market bloodbath. In light of this performance, analysts are revising their forecasts, anticipating a continued uptrend for XRP amid the recent bullish developments.

XRP Attempting Breakout from 7-year Triangle Again

According to Dom, a seasoned market analyst, the time has finally come for XRP to shine now that the nearly four-year legal battle is behind it.

Doom observed that XRP attempted to break out of its seven-year triangle pattern today following the recent surge in price. He emphasized that full acceptance above the $0.65 mark is crucial for XRP to break free and reach new heights.

The accompanying chart highlighted past instances where XRP initiated “false breakouts” just before a significant uptrend commences. 

XRP chart
XRP chart by Dom

XRP Set for “Generational Run”

Popular analyst Javon Marks echoed similar sentiments, highlighting that XRP has re-entered breakout territories. The commentary updated an earlier analysis in which Marks noted that XRP had briefly broken out, but it was only an attempted breakout. 

Upon examining the price action and RSI, he identified bull divergences that suggest a successful bullish breakout may be imminent. According to Marks, this time, prices may sustain a successful bullish break, potentially sparking a “generational price run.”

Notably, Marks’ prediction of a generational price run is based on his expectation that XRP could soar by over 42,000% from its current level to above $250. 

He believes the conservative breakout targets for XRP could be in the range of $15 to $18, which would also be unprecedented price levels for XRP. Notably, this threshold also demands a formidable surge of nearly 3,000%.

While Marks has encountered resistance for his ambitious price suggestions for XRP, he continues to take solace in the statement widely attributed to Nelson Mandela that “It always seems impossible until it’s done.”

Shiba Inu Declines but Analysts See 354% Upside Potential to $0.000081

Albert Brown
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Shiba Inu Declines but Analysts See 354% Upside Potential to $0.000081

Despite a slight recovery in the broader cryptocurrency market, Shiba Inu (SHIB) continues to face challenges, plummeting 4% in the past 24 hours and 16% in the past week. 

However, analysts remain optimistic about SHIB’s potential, highlighting a bullish structure that could signal a significant price surge. Notably, analyst Javon Marks maintains a positive outlook, emphasizing a $0.000081 target for SHIB. 

Screenshot 40
Javon Marks on X

His July analysis supports this projection, citing a “confirmed” hidden bullish divergence with the Relative Strength Index (RSI) as an indicator of a potential recovery.

Shiba Inu Hidden Bullish Divergence 

Javon Marks’ analysis underscores the importance of the Hidden Bullish Divergence in SHIB’s recent performance. This divergence occurs when the price makes higher lows while the RSI makes lower lows, suggesting strong bullish momentum.

In his July analysis, Marks highlighted that SHIB confirmed this divergence, indicating a possible recovery and continuation. His chart showed a long-term downtrend from the peak in October 2021 to the breakout point in 2023, lasting approximately 448 days. The breakout above the downtrend line marked a potential shift from bearish to bullish sentiment.

Shiba Inu historical chart by Javon Marks
Shiba Inu historical chart by Javon Marks

Following the breakout, SHIB retested the downtrend line, which now acts as support. Successful retests typically confirm the breakout, indicating potential upward movement. 

Later, after breaking the hidden bullish divergence with its RSI, Marks projected a 162% recovery, bringing SHIB back to the $0.0000456 area. Following this, an additional 75% upside could push SHIB to the $0.000081 target, totaling over 354% gains from current levels.

Further Support for SHIB Bullish Sentiment

Similar to Marks’ observation, analyst Armando Pantoja presents a strong case for an imminent surge in SHIB’s value. He emphasizes a bullish RSI divergence that suggests the correction phase is over. 

According to Pantoja, SHIB has entered an optimal buying range, presenting an attractive opportunity for investors to capitalize on the current low prices before a projected sharp surge beyond macro resistance. This growing optimism is based on SHIB’s significant retracement from its March gains, which has set the stage for a potential upward movement.

Surge in Social Metrics 

Shiba Inu’s recent performance is backed by significant increases in its social and trading metrics. According to LunarCrush data reported by The Crypto Basic, SHIB has experienced substantial growth in social interactions and content creation over the past six months.

Social interactions surged by 2,760%, while the number of social media posts increased by 2,794%. Posts with interactions grew by an impressive 3,467%, and active creators posting about SHIB rose by 2,805%. However, despite this growth, SHIB’s social dominance and sentiment saw declines of 4.3% and 6.8%, respectively.

Toncoin Bulls Eye $10 Amid 16% Spike on Binance Listing

Albert Brown
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Toncoin Bulls Eye $10 Amid 16% Spike on Binance Listing

Binance announces the trading of four pairs of Toncoin starting 8th August at 10:00 UTC. With the news, Toncoin jumped 16%, surpassing the $6 mark. Will the uptrend hit $10 as the $TON trading begins on Binance?

Toncoin, the native crypto for the Telegram Open Network, backed by the messaging platform Telegram, is in a crucial position. As the central currency of the TON ecosystem, the demand for $TON has immensely increased since its launch. Further, the growth of the ecosystem is evident with the Toncoin Network TVL at $575 Million. 

In the crypto market, Toncoin ranks eighth on the list of top 100 coins, with a market cap of $16 billion. With the altcoins market coming back on track, the bulls anticipate $TON to hit $10 soon. Let’s check the price analysis of Toncoin to find out the bullish chances. 

Binance Trading Platform Lists Toncoin 

Notably, Binance, the biggest crypto exchange by trading volume, announced today the listing of Toncoin (TON) on its trading platform. Starting August 8 at 10:00 UTC, Binance traders will be able to trade in four pairs of Toncoin: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.

With the news released in the market, Toncoin has increased by 11.55% in 4 hours.

Bulls Ready for End of Correction 

Defending dominance at the $5 psychological mark, Toncoin makes a comeback with the news of Binance listing. Amid the upsurge, $TON challenges the resistance trendline of the prevailing downtrend in the daily chart with a 12% intraday growth,

Toncoin price chart
Toncoin price chart

The reversal formed a bullish engulfing candle to undermine the 5% drop last night, reclaiming the $6 mark for Toncoin. Currently, $TON trades at $6.28, surpassing the 23.60% trend-based Fibonacci level. 

Furthermore, the sudden surge in demand results in an uptick in the MACD line, teasing a bullish crossover with the signal line. However, the 50D EMA is in a downfall and warns of a bearish crossing with the 200D EMA for a death cross. 

A bullish breakout of the overhead trendline will undermine the chances of a death cross and increase the trend momentum. 

Breakouts in 4-Hour Signal Trend Reversal

Although the daily price trend struggles to surpass an overhead trendline, the 4-hour chart is more bullish. Ignoring the trendline, the Fibonacci retracement over the correction since July reveals the recovery rally surpassing the 38.20% level. 

Toncoin price chart
Toncoin price chart

Furthermore, the DMI indicator shows a bullish crossover in the VI lines, signaling a bull run ahead. 

Will Toncoin Hit $10?

With the bullish surge, Toncoin witnesses an increase in trend momentum and hits the overhead trendline. Standing at a crossroads, the intraday price movement signals increased breakout chances.

However, a retest is possible tomorrow as Binance is only allowing deposits on August 8 and withdrawals start on August 9th at 10:00 UTC. Nevertheless, post-retest, the uptrend is likely to reach the $10 mark with minimal resistances at $7.47 and $9. 

Shiba Inu Lead Reacts to Musk-Trump Interview, Says Crypto Future Looks Bright

Albert Brown
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Shiba Inu Lead Reacts to Musk-Trump Interview, Says Crypto Future Looks Bright

Shiba Inu lead reacts as the upcoming interview between Elon Musk and Republican presidential candidate Donald Trump generates excitement within the crypto community.

Moments after Elon Musk, known for his pivotal roles at SpaceX and Tesla, confirmed the upcoming interview with US presidential candidate Donald Trump, Shiba Inu lead developer Shytoshi Kusama expressed his excitement on X. 

Kusama highlighted the bipartisan support for cryptocurrency, stating that regardless of political stance, the enthusiasm for crypto from both candidates signals a bright future for the industry.

Trump’s Embrace of Cryptocurrency

Notably, Donald Trump’s advocacy for Bitcoin has become increasingly evident, especially with his recent participation in major crypto events. During the Bitcoin conference in Nashville, Tennessee, he emphasized the importance of holding onto Bitcoin, reflecting his deepening connection with the crypto community. 

His commitment to Bitcoin is further highlighted by his inclusion of pro-Bitcoin rhetoric in his campaign speeches and his choice of a pro-Bitcoin running mate, J.D. Vance, for his 2024 campaign.

Harris’ Strategic Moves in the Crypto Space

Kamala Harris, who stepped into the Democratic presidential race after President Joe Biden withdrew, has also shown an interest in the cryptocurrency sector. Although she did not attend Bitcoin 2024 as previously teased, her campaign has made strategic appointments considered potentially bullish to the industry.

Notably, former Obama aide and past member of the Binance Global Advisory Board, David Plouffe, has been appointed as her senior adviser for strategy. 

Diverse Opinions Arise

Kusama’s comments sparked widespread discussion on X, with users voicing diverse opinions about the political landscape and cryptocurrency. Some users noted the bipartisan support for crypto, while others questioned the Democratic Party’s specific proposals for crypto regulation. 

Most recently, Eric Trump, son of former President Donald Trump, hinted at a major upcoming announcement related to cryptocurrency and decentralized finance (DeFi).

Shytoshi Kusama commented on this, expressing interest in the community’s opinions on this development.

Specifically, Eric Trump’s comments indicate a shift towards embracing the crypto sector, contrasting with his previous move to distance himself from the “Trumpcoin” memecoin.

Ripple and SEC Will Appeal Court Final Judgment, Experts

Lele Jima
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Ripple and SEC Will Appeal Court Final Judgment, Experts

Pro-XRP lawyers speculate that both the U.S. SEC and Ripple will appeal Judge Torres’ final judgment. 

Following the court’s final decision in the SEC v. Ripple lawsuit, the crypto community has been embroiled in a debate regarding whether the decision would trigger an appeal from any parties. 

Ripple and SEC Will Appeal 

Many legal experts, including Attorney Bill Morgan and James Murphy (MetaLawMan), speculate that both sides will appeal. Their prediction is based on the fact that the court’s final judgment ended in a partial victory for each side. 

According to the decision, the court imposed a fine of $125 million against Ripple instead of the SEC’s $2 billion ask. It also slammed a permanent injunction restraining Ripple from future violation of Section 5 of the Securities Act. 

While reducing the fine is considered a favorable ruling for Ripple, the permanent injunction is seen as a win for the SEC. 

Ripple Reacts to Court Judgment 

Notably, Ripple’s execs Brad Garlinghouse (CEO) and Stuart Alderoty recently expressed respect for this decision.

However, they did not comment on the section of the ruling restraining the company from selling “any securities” to U.S. institutions without obtaining a registration statement from the SEC. This suggests that the company could be deliberating on the matter to determine the next line of action. 

Will SEC Appeal? 

Conversely, the SEC has yet to issue an official statement regarding the final judgment. The SEC’s commentary will decide whether or not it plans to appeal the decision.

Nonetheless, famous XRP community member Sherrie emphasized the commencement of a 60-day countdown during which the SEC, Ripple, or both parties can officially appeal the final judgment. This countdown commenced after the court officially issued the final verdict yesterday.

Regarding the potential appeal, Sherrie asserted that the community should look out for the SEC’s press release regarding the ruling to gauge whether the commission plans to appeal. According to her, the SEC might not issue this press release if it intends to appeal the ruling. 

Meanwhile, the SEC had attempted to appeal the court’s summary judgment on programmatic sales and other distributions. However, Judge Torres denied this request, ordering the agency to wait until all pending matters, especially the remedies phase, are resolved. Nothing stops the SEC from resuming its appeal efforts following the court’s final judgment. 

Perfect Timing for Ripple

Meanwhile, the timing of the decision seems to be in Ripple’s favor. It is common knowledge that the Democratic Party is trying to rebuild its relationship with the crypto industry in anticipation of the upcoming U.S. elections. 

According to reports, this development played a role in the SEC’s decision not to give the securities tag to third-party tokens, like Solana and Cardano, initially labeled as securities in the Binance lawsuit. 

If the rumors are true, the SEC may not appeal the Ripple decision in an attempt to woo more crypto voters ahead of the election. 

Shiba Inu Lead Looks Forward to Close This Fresh Deal

Abdulkarim Abdulwahab
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Shiba Inu Lead Looks Forward to Close This Fresh Deal

Shytoshi Kusama, the mysterious Shiba Inu ecosystem lead, has hinted at a potential deal set for completion with an AI project.

Kusama gave this breadcrumb during his latest interactions on microblogging platform X. The hint came in response to a post by NFA Labs, a project revolutionizing DeFi with its autonomous network of data and AI.

Shiba Inu Lead Seeks to Close a Deal

The post highlighted one of NFA Labs’s products’ capabilities: leveraging algorithms and real-time data analysis to generate consistent profits for users. Kusama replied to the post, inquiring about the status of a pending collaboration with NFA Labs. 

“Wen we closing that deal bruh,” the Shiba Inu leader asked. NFA Labs has responded to Shytoshi Kusama’s inquiry, confirming that they are ready to finalize the deal. 

Community Members React

The interaction has triggered excitement within the SHIB Army and the NFAI community. Moe Linde, a community member, remarked that NFA Labs’ ability to form partnerships is unparalleled. Linde noted that it is unsurprising given that its founder has a strong background as a former core SHIB Army.

Another community member expressed excitement, commenting that it is a rare occurrence for a project to receive support from a prominent figure like Shytoshi Kusama on a casual day.

They emphasized that NFA Labs is not an average project and warned others not to underestimate its potential amid the deal with SHIB.

NFA Labs’ Connections to Shiba Inu

Notably, NFA Labs has a strong connection with Shiba Inu, particularly through the Shibarium ecosystem blockchain. Before the official launch of Shibarium last year, NFA Labs announced plans to develop the lending protocol Canis on the Shiba Inu blockchain. 

The protocol seeks to enhance Shibarium by enabling users to leverage their holdings to invest in L2 projects.

It provides NFAI token holders with price-agnostic yield and reduces SHIB’s circulating supply to drive price growth. Moreover, it competes with other lending protocols to generate revenue and provide safe liquidity on Shibarium L2.

Earlier this year, an article reported that the total value locked (TVL) on Shibarium had reached $1 million. However, NFA Labs responded by claiming that their staking and lending platform had accumulated $5 million in TVL within just 24 hours of its launch and had not been included in the reported figure. 

According to NFA Labs, the actual TVL of the Shibarium ecosystem is $6 million, not $1 million. Essentially, NFA Labs aims to demonstrate their project’s significant impact on accelerating the Shibarium ecosystem’s growth.

Cardano Founder Backs Peter Schiff’s Critique of Bitcoin ETFs

Albert Brown
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Cardano Founder Backs Peter Schiff’s Critique of Bitcoin ETFs

Financial commentator and Bitcoin critic Peter Schiff recently reignited controversy within the cryptocurrency community by criticizing Bitcoin exchange-traded funds (ETFs). 

Schiff argued that investing in Bitcoin ETFs undermines the very principles of Bitcoin, a view that surprisingly found support from Charles Hoskinson, founder of Cardano.

Schiff’s Argument

Peter Schiff’s argument centers on the belief that Bitcoin ETFs erode Bitcoin’s decentralization and peer-to-peer nature. He stressed that with ETFs, Bitcoin is no longer decentralized, can be easily seized by authorities, cannot be used as a currency for payments, and cannot be transferred across borders. 

Schiff further emphasized the security risks associated with holding Bitcoin through ETFs, stating that investors do not truly own their Bitcoin if they do not hold their private keys. Additionally, he criticized the motivations of new investors, suggesting that they only care about the price and aim to cash out with profits, which, according to him, signals the potential collapse of Bitcoin as a pyramid scheme.

Interestingly, Schiff’s criticism of Bitcoin this time gains widespread approval from crypto community members.

Cardano Founder Agrees 

For instance, Charles Hoskinson, co-founder of Input Output Global, expressed agreement with Schiff’s assessment, saying “Peter is making a cogent point about Bitcoin.”

 

Also, Crypto Rover, a famous crypto YouTuber and podcaster Peter McUnburdened, acknowledged the validity of Schiff’s arguments. Other community members also expressed agreement that many investors are using Bitcoin merely to make money, not for its technological benefits. 

Eric Balchunas, Senior ETF Analyst for Bloomberg, also weighed in, saying “It’s a fair point.” However, he compared Bitcoin ETFs to gold ETFs or mutual funds and questioned the perceived difference in holding assets through these financial instruments.

Peter Schiff’s latest remarks follow his previous criticism of Donald Trump’s support for Bitcoin, which Schiff claimed was a strategic move to garner votes and contributions from the crypto community. Schiff asserted that Trump’s promises to make Bitcoin a reserve asset would remain unfulfilled.

XRP Volume on South Korea Leads Worldwide, Following SEC vs Ripple Final Judgment

Albert Brown
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XRP Volume on South Korea Leads Worldwide, Following SEC vs Ripple Final Judgment

Moments after the SEC lawsuit against Ripple concluded, XRP trading volume on South Korea’s largest exchange, Upbit, witnessed an unprecedented surge. 

Chad Steingraber, a prominent game designer and XRP community figure, reported this spike on the X platform. This significant volume increase underscores the heightened interest and trading activity surrounding XRP in the aftermath of the legal decision.

Screenshot 35

Volume Analysis 

During the price surge, trading volume on Upbit spiked sharply, reaching approximately 125 million KRW within a few hours.

Following this spike, trading volume remained elevated, ranging between 50 million to 100 million KRW across hours. This sustained high volume indicates ongoing trading interest and activity in XRP on Upbit. However, the volume has since fallen to around 6 million KRW.

Overall, Upbit’s trading volume on XRP over the past 24 hours has increased to $725 million, amounting to 14% of the global XRP volume. This positions Upbit’s XRP trading volume above other exchanges, such as Binance, where the volume stands at $675,780,414.

Further data reveals that XRP has overtaken Bitcoin in trading volume on the Korean exchange Upbit, with its $725 million volume more than double Bitcoin’s volume of $321,561,057. XRP’s trading volume accounts for 30.04% of the total volume on Upbit, making it the most actively traded cryptocurrency on the exchange.

XRP Volume Dominates on Bithumb and Coinone

Additionally, on Bithumb, another major Korean exchange, XRP continues its dominance with the highest trading volume of $169,433,535, representing 22.73% of the total trading volume. Tether USD (USDT) follows as the second-highest.

On the Korean exchange Coinone, XRP has flipped Bitcoin in terms of trading volume, albeit by a slight margin. XRP’s trading volume stands at $16,808,530, just above Bitcoin’s $16,798,828, with both having nearly identical volume percentages of around 20.34% and 20.33%, respectively.

Percentage Change in Volume

Additional volume indicators, such as the Volume Rate of Change (Vol ROC), also showed significant spikes. The Vol ROC, which measures the percentage change in volume over a specified period, spiked to values above 3,000% during the price surge, indicating an extremely high increase in trading volume. 

Screenshot 36

Post-surge, the Vol ROC values fluctuated between 1,000% and 3,000%, still reflecting higher trading activity compared to pre-spike periods.

Today, XRP (XRP) is priced at $0.6081 with a 24-hour trading volume of $5,126,613,224. This marks an 18.66% increase in the last 24 hours and a 0.11% increase over the past week.

Legal Developments Impact XRP

Notably, following the court’s judgment in the Ripple case, there is an ongoing debate about whether Ripple can sell XRP to U.S. institutional clients. Some XRP community members believe Ripple will no longer be allowed to sell XRP to these clients. However, notable crypto stakeholders have clarified this misconception.

Matt Rosendin, founder of CapSign, emphasized that the ruling does not prevent Ripple from selling XRP to institutions. Instead, it requires Ripple to disclose future sales and obtain a federal securities exemption from the SEC. 

Additionally, wealth author Linda P. Jones highlighted that Judge Torres’ injunction only pertains to Ripple’s XRP sales to “big corporations,” a practice Ripple ceased long ago. This clarification reassures the XRP community and stakeholders about the implications of the ruling.

Ripple CEO on Final Judgement: We Respect Court Decision, SEC’s $2B Demand Reduced by 94%

Lele Jima
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Ripple CEO on Final Judgement: We Respect Court Decision, SEC’s $2B Demand Reduced by 94%

Ripple’s CEO Brad Garlinghouse and CLO Stuart Alderoty join the broader crypto community to react to Judge Analisa Torres’ final judgment in the SEC lawsuit. 

Judge Torres issued the highly anticipated final judgment Wednesday, ending the multi-year lawsuit between the SEC and Ripple. 

SEC v. Ripple Final Judgment 

As reported earlier, the U.S. District Judge ordered Ripple to pay a $125.03 million fine instead of the nearly $2 billion requested by the SEC following its violation of federal securities law via its past XRP institutional sales. 

Also, the court imposed a permanent injunction against future sales to institutions, mandating Ripple to obtain a registration statement from the SEC if it plans to sell any securities. 

Despite many legal experts speculating that Ripple might appeal the court’s final judgment, the company seems satisfied with the decision. 

Ripple CEO Says Imposed Penalty is 94% of SEC Demand  

In a statement issued on X yesterday, Ripple’s CEO highlighted the significant reduction of the SEC’s proposed penalties. According to Garlinghouse, the $125.03 million penalty represents a 94% reduction compared to the SEC’s $2 billion demand. 

He said this reduction suggests that the court found the SEC’s initial demand excessive. Interestingly, Garlinghouse expressed respect for the court’s decision, emphasizing that the company now has the clarity to continue growing its business. 

Furthermore, he characterized the final judgment as a victory for Ripple and the broader crypto industry. Following the court’s judgment, Garlinghouse confirmed that the regulatory obstacles imposed by the SEC against the XRP community have ended. 

Ripple CLO Respects Court Decision 

Also, Ripple’s CLO Stuart Alderoty echoed the same sentiment, as he expressed satisfaction with the decision. Summarizing the court’s final judgment, Alderoty noted that Judge Torres dismissed the SEC’s “reckless” claim against Ripple. He added that the judge acknowledged that the lawsuit does not involve fraud allegations that caused investors financial harm. 

The Ripple CLO pointed out that Judge Torres rejected the SEC’s absurd demand for a $2 billion fine, adding: 

“We respect the $125M fine the Court has imposed for certain historic sales to sophisticated third parties.” 

Following the comments from Ripple execs, the company seems satisfied with the final judgment and may not appeal. The major question remains whether the SEC will appeal the ruling, given that the court did not grant its entire request, especially the monetary demand. 

XRP Soars 30% as Whales, Sharks Accumulate XRP to All-Time High 7B Tokens

Abdulkarim Abdulwahab
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0
XRP Soars 30% as Whales, Sharks Accumulate XRP to All-Time High 7B Tokens

XRP surges 30% to $0.6408, driven by whale accumulation and social media frenzy, following a crucial development in the SEC vs. Ripple lawsuit.

XRP is again witnessing a solitary pump amid a broadly passive crypto market. Specifically, XRP has increased by approximately 30% from $0.4942 to $0.6408 today, emerging as the best-performing crypto among the top tokens in the last 24 hours.

Intelligence platform Santiment confirmed the growing market valuation of XRP in a recent update. The report provided insight into what happened on-chain before the price explosion for XRP.

XRP Whales Accumulate to New All-time Highs

Santiment revealed that wallets holding between 1 million and 10 million coins on the XRP Ledger network now hold a record portfolio. In particular, they now command 7.06 billion XRP coins valued at $4.42 billion.

This month alone, they accumulated an additional 662.4 million XRP coins, marking a 10.4% increase. Essentially, XRP whales and sharks have accumulated the asset to new all-time highs.

XRP Chart Santiment
XRP Chart Santiment

XRP Social Dominance Also at Highest Levels

Meanwhile, besides on-chain accumulation propelling the value of XRP, the analytic platform observed that XRP’s social dominance is currently at its highest level since January 30, as mentions of XRP on social media platforms have surged in the last 24 hours.

For instance, there have been at least 61,100 posts mentioning “XRP” on X today, with “Ripple” also appearing 29,100 times. 

XRP mentions on X
XRP mentions on X

In a separate report, social intelligence platform LunarCrush highlighted that the sentiment toward XRP on social media is 65% positive, with social interactions seeing a 184% increase in the last 24 hours.

This increased social media activities for XRP contributed to the asset’s surging value today. Remarkably, XRP has seen a 24-hour trading volume of over $5 billion, a massive 212% increase from the previous day’s figure. This represents its highest 24-hour volume in five months.

Ripple Lawsuit Ends

Legal developments have triggered XRP’s uptrend. Notably, the judge in the nearly four-year SEC vs. Ripple lawsuit has issued the final judgment, ending the long-standing legal dispute that many believe hindered XRP’s progress, particularly during the last bull run when it failed to reach a new all-time high.

Specifically, Judge Analisa Torres reduced the $2 billion fine sought by the SEC for Ripple’s violation of securities laws by 94%, bringing it down to just $125 million and ultimately ending the dispute. 

Members of the XRP Army have long awaited this final decision. They believed it would significantly impact XRP, similar to what occurred following the July 2023 ruling that XRP is not a security when XRP’s value doubled within 24 hours.

While XRP reached a high of $0.64 today, it is already retracing and trading just above $0.60 at press time.

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