XRP Price Surges 6% Amid Hopes of SEC Dropping Case Appeal

Quick Overview

XRP has surged 6% as the August 15 SEC appeal deadline approaches, fueling speculation that the regulator may abandon its case against Ripple. The crypto market is also reacting positively to major exchanges and firms planning a return to the U.S. amid growing optimism for regulatory clarity. The recent rally in XRP is being driven by renewed investor confidence, increased trading volumes, and broader momentum in the altcoin market. Analysts suggest that a favorable outcome in the Ripple case could pave the way for XRP to retest key resistance levels.

The price of XRP, the world’s third-largest cryptocurrency by market capitalization, gained over 6% in the last 24 hours, reflecting bullish sentiment around a critical appeals deadline in its lawsuit with the US Securities and Exchange Commission (SEC).

The native asset of the XRPL blockchain may be poised for a short-term rebound as crypto companies begin to return to the United States, with domestic policy shifting in a more positive direction.

XRP rebounded on Sunday and has extended its gains into Monday. Crypto Law founder and Amicus Curiae attorney John E. Deaton said, “We may be in a bull market,” while commenting on the recent price action.

The token snapped out of a four-day losing streak by rallying 6.6% yesterday, reversing its 6.5% loss from Saturday. XRP closed the week at $2.95 and outperformed the broader market, which rose by 2.06% to a total market cap of $3.66 trillion.

SEC Expected to Withdraw Its Appeal in Ripple Lawsuit Before August 15 Deadline

The SEC must submit a status update on its appeal against Ripple, the fintech behind XRP and XRPL, by August 15, as per the court’s order. While market participants expect the securities watchdog to withdraw its appeal, it hasn’t formally announced the decision. Still, the deadline is being interpreted as a potential inflection point for regulatory clarity. A resolution could reduce litigation overhang and could be key to XRP’s price.

If it withdraws its appeal, the SEC could expedite its review of pending spot XRP exchange-traded funds (ETFs) applications. The next closed meeting at the agency is slated for August 7, which presents the Commissioners with an opportunity to vote on dropping the appeal. Since Judge Analisa Toreres rejected the joint motion from the SEC and Ripple for an indicative ruling on settlement terms in June, the agency has conducted five closed meetings.

SEC’s ‘Project Crypto’ To Ease Crypto Regulations, Treasury Secretary Urges Crypto Firms to Return to the US

While giving a speech at the America First Policy Institute on Thursday, SEC Chair Paul Atkins called on the US to “reshore” the crypto businesses that fled. He highlighted the broader effort by President Donald Trump and his administration to position the country as a global crypto hub.

The SEC has announced “Project Crypto”, an initiative to modernize the agency’s operations and prepare it for the age of digital finance by establishing clear regulations for crypto assets. According to Atkins, the project takes into account the recommendations made by the President’s Working Group on Digital Asset Markets in a report published on July 31.

The agency chief also proposed easing licensing requirements to allow brokerages to offer multiple asset classes or instruments under a single registration, while creating a clear market structure to separate commodities from securities. Currently, most cryptocurrencies fall under the securities bracket, a classification unilaterally opposed by market participants.

Atkins stated that regulatory exemptions or grace periods should be offered to early-stage crypto projects, initial coin offerings (ICOs), and decentralized software, giving them enough flexibility to innovate, without the threat of litigation or fear of reprisal by the SEC.

US Treasury Secretary Scott Bessent also echoed Atkins’ statements, saying on Friday that America has entered the “golden age of crypto” and called on companies to launch their protocols and hire their workers in the country.

Digital asset firms are already responding to the support guaranteed at the Presidential level and the enactment of clearer regulations, with some relocating their operations to the US from abroad while domestic entities continue to expand their footprint.

XRP Suffers Mass Sell-off as a Result of Macroeconomic Uncertainty, but the Price Rebounded After Bottoming at $2.75

XRP saw peak sell pressure on August 2 amid growing global trade tensions and renewed US tariff uncertainty, which shook risk markets across the board. The asset bottomed at $2.75 on Saturday, forming a short-term support as trading volumes hit 22.24 million XRP, 183% higher than the 24-hour average of 78.52 million XRP.

Meanwhile, institutional investors appear to be rebalancing their portfolios as macro conditions prompted capital rotation away from altcoins and into more liquid assets. Analysts highlighted ongoing rate adjustments by global central banks and heightened geopolitical risks as catalysts for the broader sell-off.

Traders are now monitoring whether XRP can hold above its first-layer support between $2.75 and $2.76 to build a case for recovery, and whether institutional inflows or continued exchange outflows of the token can validate the accumulation narratives. XRP hitting the floor at $2.75 with its most aggressive daily decline could signal a capitulation, also known as a local bottom.

XRP is flashing a bullish divergence on its four-hour candle chart, hinting at a potential trend reversal. While the price has been making lower lows, the token’s relative strength index (RSI), a momentum indicator, is making higher lows, suggesting that the recent selling pressure is losing strength.

Another bullish indicator is the daily chart, which is printing a Dragonfly Doji candlestick pattern, with the open and close prices sitting near the top of the candle. This suggests that buyers have stepped up strongly after the early selling pressure. Back in April, XRP bounced back roughly 65% after showing a similar chart pattern.

Also Read: XRP Price Prediction 2025-2050: Short Term and Long-Term Predictions

XRP Could Target a 20% Rally Toward $3.65 in the Coming Days

Analyst ‘Cryptoes’ said that the price retaining its prevailing bullish moment above the $2.80-$2.95 support range is a “HUGE moment”, calling it a “make-or-break” level for the asset.

XRP is also projecting a classic falling wedge pattern on its four-hour chart, indicated as a bullish reversal setup that may hint at a strong upside move. The XRP/USD trading pair bounced off this wedge’s lower boundary near the 200-4H exponential moving average (EMA), showing strong demand at the support zone.

If the price breaks above the wedge’s upper trendline, then a 20% rally toward the $3.60-$3.65 range could be expected in the coming days, aligning with the 0.236 Fibonacci line at around $3.07.

At the time of writing, XRP is trading at $2.98, up 5.16% in the last 24 hours.