XRP Price Surges on 200% Futures Volume After Ripple Lawsuit Resolution
Date Published
XRP has experienced a notable increase, driven by a remarkable 200% spike in futures trading volume over the past 24 hours. This surge indicates heightened trader interest and suggests a potential continuation of the momentum.
Ripple Lawsuit Conclusion Sparks bullish Sentiment
The end of the long-running vs. Ripple lawsuit has contributed to XRP’s positive outlook, with over 10% gains since Thursday. This resolution appears to have cleared regulatory uncertainties, encouraging investors to re-enter the market.
Futures market Reflects Growing Speculation
According to onchain data from Glassnode, XRP futures trading volume surpassed Solana’s, reaching $12.4 billion, up from previous levels. Open interest also increased by 15%, signaling increased open positions and trader confidence.
The positive futures activity hints at traders positioning for further gains, with most taking long positions, as indicated by the 0.01% daily funding rate. However, heavy leverage could lead to increased risk of liquidations if prices fall unexpectedly.
technical analysis Points Toward $4.50 Target
XRP's recent breakout from a classic bull flag pattern points toward a potential target of over $4.50 by September or October, representing approximately a 35% increase from current levels. This aligns with analyst forecasts and technical indicators suggesting strong upward momentum.
market Outlook and Key Support Levels
The $2.80–$2.82 range is a significant support zone, holding over 1.70 billion tokens acquired at those prices, which may serve as a foundation should prices pull back temporarily. The breakout volume confirms investor confidence and potential for sustained upside.
Implications for Crypto market Dynamics
A rate cut by the Federal Reserve in September could further boost risk-on assets like XRP, adding to the bullish sentiment fueled by regulatory clarity and technical strength. This scenario underlines the importance of macroeconomic factors influencing crypto prices today.
Conclusion
As XRP continues its upward trajectory backed by increased futures activity and positive developments, traders should monitor support levels and market signals closely. The current momentum makes XRP a key asset to watch in both regulatory and technical contexts within the crypto market.
