$XRP (+1,09 %) Price Surge Driven by Legal Clarity and ETF Speculation
XRP is making waves today, climbing over 11% to trade around $2.25, fueled by a confluence of bullish catalysts. The easing of Middle East geopolitical tensions has boosted risk-on sentiment, propelling cryptocurrencies like XRP higher. A key driver is the resolution of Ripple’s legal battle with the SEC, with Ripple dropping its cross-appeal, signaling a potential end to the four-year conflict. This clarity has sparked optimism, with analysts like Nate Geraci suggesting an XRP spot ETF could be on the horizon, potentially attracting $85 million in assets in its first week. Technical analysis supports the bullish momentum, with XRP testing resistance at $2.25 and eyeing $2.69 if it breaks out of its current wedge pattern. On-chain data shows a 6.2% increase in wallets holding over 10,000 XRP, reflecting strong investor confidence. However, some caution persists due to XRP’s large circulating supply and macroeconomic uncertainties like Federal Reserve rate decisions. With Bitcoin hitting $107,000, the altcoin market, including XRP, is riding the wave. Investors are watching for a potential SEC appeal withdrawal by July 3, which could further solidify XRP’s path to new highs.