Vlad Hryniv

The crypto market has shown strong resilience over the past 24 hours, with $BTC and $XRP leading the charge. Bitcoin has managed to reclaim levels above $83,000, but the real excitement lies in XRP. The token has shown impressive recovery, bouncing back from lows below $2, which indicates growing bullish momentum.

The major setback for XRP’s price previously was the ongoing lawsuit with the SEC. This legal battle, coupled with delistings from US exchanges, made many traders uncertain about its future. However, recent reports suggest that this storm may be clearing soon. Insider sources indicate that the case is nearing its end, and the SEC has been wrapping up investigations on other crypto platforms.

💼 What Could Spark the Next Rally?

- XRP Lawsuit Closure: Speculation is rising that the long-awaited closure of the Ripple vs. SEC case could fuel bullish sentiment.

- New Licensing and Partnerships: Ripple is actively working on securing a DFSA license for crypto payments, and major institutions like Franklin Templeton are eyeing an XRP ETF. These developments could propel XRP into a new wave of institutional adoption.

📉 Price Action Update: Despite the positive news, XRP is facing some bearish pressure as it struggles to break key resistance levels. The price recently invalidated the Head & Shoulders pattern, but still hasn't risen above $2.28, which raises concerns for short-term price action.

That said, the RSI is still climbing, and the Ichimoku Cloud is preparing for a bullish crossover. If XRP breaks above the current range ($2.03 - $2.27), we could see further tests of higher targets 🚀.

🌟 With the legal clouds around Ripple clearing and more institutional interest, XRP may be on the brink of a major breakout. A 2-digit XRP price is not out of the question in the near future!

📊 WhiteBIT Chart: XRP/USDT (1D)