In the past 48 hours, large XRP holders have bought 900 million tokens, according to market analyst Ali Martinez. This surge in accumulation follows the resolution of the prolonged legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Both parties agreed to dismiss all appeals, effectively closing the case.
With regulatory uncertainty lifted, institutional interest in XRP has surged. Daily trading volume hit $8.77 billion in the last 24 hours, marking a 69% jump compared to the previous day. Open interest also climbed, signaling an increase in active market positions.
Price Pullback Amid Uptrend Potential
At the time of writing, XRP traded at $3.13, reflecting a 4% decline over the past 24 hours but a 3% gain compared to last week. This slight pullback comes after two consecutive days of strong advances, driven by optimism over legal clarity. Ali highlighted $3.27 as the crucial level to watch, stating that a break above it could clear the path to $3.60.
Source: CoinMarketCap
On the 2-hour XRP/USDT chart, the price continues to move inside a downward channel. The $3.27 resistance aligns with the channel’s upper boundary. Breaking above this point could pave the way toward $3.37, then $3.51, and possibly $3.60.
Key Support Zone Holds the Bulls’ Focus
Analyst CrediBULL Crypto identifies the $2.95 – $3.11 range as a key buying opportunity. XRP currently trades just above this zone and could retest it before attempting another rally. “As long as the green zone holds, we can target range highs or new all-time highs,” he stated.
Related article: XRP Faces Potential Deeper Correction: Key Levels to Watch for a Possible Reversal
His projection outlines a potential breakout toward $3.60. If this level is surpassed, the path to fresh all-time highs becomes more likely. However, a drop below $2.95 would invalidate this bullish outlook.
Ripple’s regulatory clarity has improved investor confidence, yet broader market sentiment still depends on global economic factors such as trade tensions and monetary policy shifts. Short-term traders and long-term holders now watch closely to see if XRP can break above $3.27. Achieving this could set the stage for a decisive push toward the $3.60 mark.
