XRP’s Wild Ride: ETF Dreams and Legal Battle Fuel 6.5% Surge!

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Ah, the sweet scent of speculation and legal battles! XRP, that enigmatic cryptocurrency, has surged a whopping 6.57% in the past 24 hours, reaching the dizzying heights of $2.58. What could possibly be the reason for this sudden leap, you ask? Well, dear reader, it seems the stars have aligned for our dear XRP, with renewed speculation around a BlackRock-backed XRP ETF and signs of progress in the never-ending Ripple-SEC legal battle.

ETF speculation and lawsuit progress ignite momentum

Rumors are swirling that BlackRock, the world’s largest asset manager, could soon file for a spot XRP ETF, according to CoinGape. At the same time, the Ripple-SEC lawsuit has entered its final procedural stage, with both parties filing a joint motion to dismiss remaining appeals. Crypto analysts, including those from JPMorgan, suggest an XRP ETF could attract over $8 billion in capital inflows if approved later this year. 🤑

This potential regulatory clarity, combined with speculation of institutional adoption, has fueled strong buying interest. And who doesn’t love a good buying frenzy? 🤑

Technical breakout validates bullish trend

XRP’s breakout above the $2.50 pivot triggered a wave of algorithmic and manual buy orders. The Relative Strength Index (RSI 14) currently sits at 72.29, indicating elevated but not extreme momentum. Fibonacci extension levels suggest the next resistance lies at $2.73 and $2.96, matching previous local highs. 🚀

Trading volume spiked 29% to $6.8 billion in 24 hours, confirming the strength of the move. 📈

Outlook

XRP now faces key resistance near the $2.73 level. If ETF filings are confirmed or the legal case is resolved, institutional buyers may drive the price higher. However, lack of concrete news could prompt short-term profit-taking. Investors are closely watching for regulatory developments in the days ahead. 🕵️‍♂️

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2025-07-11 12:24