XRP Price Today: XRP Breaks $3 Barrier Just as Ripple SEC Appeal Hangs in Balance

XRP broke above $3.05 after briefly touching $2.91, signaling bullish pressure fueled by high-volume trades and broader institutional moves.

According to Brave New Coin data, XRP traded within a tight 24-hour band between $2.95 and $3.09. The upward momentum peaked between 15:00 and 16:00 UTC, during which over 110 million XRP tokens changed hands, nearly three times the daily average. Much of this volume originated from South Korean exchange Upbit, which alone recorded more than $95 million in XRP transactions.

The latest XRP news today revolves around a major turning point in the ongoing Ripple vs SEC legal battle. The U.S. Securities and Exchange Commission (SEC) is set to deliberate Ripple Labs’ decision to withdraw its appeal, potentially cementing XRP’s non-security classification under U.S. law.

Former SEC lawyer Marc Fagel says the agency may vote to drop its Ripple case appeal as early as August 7. Source: XRP Update via X

A favorable outcome could eliminate a key overhang for Ripple and the XRP ledger, paving the way for broader adoption and regulatory clarity. The ruling is expected by mid-August and is likely to heavily influence short- and mid-term XRP predictions. “This deliberation could define how U.S. financial law views XRP going forward,” said a regulatory analyst at CryptoLaw.

Adding to the positive sentiment, Japan-based SBI Holdings recently filed for a Bitcoin-XRP ETF. This move signals growing international confidence in the Ripple ecosystem and adds weight to the notion that institutional investors may be preparing to scale into XRP positions.

SBI Holdings has officially proposed XRP-linked ETFs on the Tokyo Stock Exchange, marking a major development for XRP. Source: @LeviRietveld via X

Notably, several corporate players are reportedly ready to commit up to $1 billion toward XRP treasury allocations. If approved, SBI’s ETF could become a landmark for Ripple XRP price prediction scenarios and provide added legitimacy in regulated markets.

As of the latest data, the XRP price stands at $3.08 with modest upward momentum. Technical indicators show mixed signals:

• The MACD shows a mild bullish crossover.
• RSI sits at a neutral 51.09, suggesting indecision in the market.
• The CCI and ADX lean slightly bearish.

XRPUSD has been forming a triangle pattern after hitting $2.72, and a break above the 200-SMA and $3.00 could signal a potential rally toward $3.20. Source: ProfessorSingapore on TradingView

Despite the lack of a clear trend, the XRP coin price continues to hover just above an important ascending trendline that has held since late June. A breakout above $3.05 could open the door to $3.25 and possibly $3.50, according to several chart analysts.

On the downside, a drop below the $2.85 support zone could push XRP back toward $2.60 or even $2.30, levels not seen since early July.

In recent XRP crypto news, traders remain cautiously optimistic but wary of further volatility. “We’re in a consolidation phase right now,” one analyst noted. “Until either the SEC ruling or a Bitcoin price move shakes the market, XRP is likely to stay in this narrow range.”

With low volumes and cluster resistance at the 9-day SMA at $2.9952, XRP price today appears range-bound. Ripple optimism on the legal front and institutional entry could provide the catalyst for a clear break.

Looking ahead, the outcome of the Ripple SEC lawsuit could have a lasting impact on the XRP price forecast for 2025 and beyond. A favorable regulatory climate could support XRP forecasts of $5 or higher over the long term, especially if institutional products like ETFs and remittance solutions gain traction.

XRP was trading at around $3.08, up 4.44% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

On the other hand, a negative outcome would delay these developments and compress XRP prices in the near future. For now, everyone is waiting with bated breath for the court’s next move.

The XRP rally today above the $3 mark demonstrates the strength of the token against regulatory headwinds. Despite the XRP lawsuit update still hanging in the balance, heightened institutional interest and key ETF filings indicate the potential for a shift in market dynamics.

Whether XRP will go up or back to consolidation largely hinges on legal clarity and general market catalysts. Either way, XRP is one of the most closely watched assets in the crypto space.