Rejected at Resistance, Pullback to Support

Earlier this week, XRP surged from the bullish FVG zone highlighted in our previous analysis and climbed all the way to the 2.65$ resistance. However, it was sharply rejected at this level, marking a textbook resistance reaction. The price has since retraced to its support zone, once again testing the market’s appetite for risk.

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If this current support breaks, a deeper move towards 2.46$ is highly likely. This zone will be a key battleground between bulls and bears.

A Potential New High in Sight?

Not all signals are bearish, though. A strong bounce from the support area could ignite fresh bullish momentum. Should buyers step in with volume, XRP might aim for a new local high, with 2.65$ becoming the first upside target once again.

The coming sessions are critical, with 2.46$ as support and 2.65$ as resistance forming the immediate technical framework for XRP traders.

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Recently, after the buying pressure from the $2 support, XRP rose to the $2.11 level. However, the direction in which XRP will move from here depends on a few critical resistance and support levels. If the $2.78 level is breached, the price could potentially rise further. Meanwhile, the downward FVG area will act as the next resistance point.

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On the other hand, if the $2 support is lost, XRP might head toward new support levels. In this case, the upward FVG area would emerge as the closest support zone where the price could potentially bounce back.

The most important levels for investors to watch will be the $2 support and $2.78 resistance. Price movements around these levels could be decisive for short-term strategies and buy/sell decisions.

These critical levels and possible price movements in XRP can significantly influence investor decisions. By correctly analyzing the market dynamics, there will be opportunities for short-term gains.

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However, if the $2.78 resistance cannot be broken, XRP is expected to find support at $2.52. Maintaining this level is crucial for the continuation of the uptrend. Technical analysis shows that XRP is gradually forming an uptrend. Additionally, the proper alignment of EMA levels supports a bullish outlook, making this a positive sign for further gains.

SEC Approves Modification for Grayscale Spot XRP ETF!

One of the most significant developments for XRP is the SEC‘s approval of the modification request for the Grayscale Spot XRP ETF. This news could increase institutional interest in XRP and have a positive impact on its price. While ETF rumors enhance investor confidence, they may also trigger a new wave of momentum in XRP’s price movement.

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Key Levels in XRP Technical Analysis

If the $2.78 resistance is broken, $3.00 and $3.15 levels could come into play. At this stage, staying above $2.78 will be crucial for the continuation of the bullish trend. However, if $2.78 is not surpassed, a pullback could lead XRP to test the $2.52 support level, which is expected to act as a strong base.

Additionally, XRP is slowly forming an uptrend. Technical indicators are giving positive signals, and the bullish alignment of EMA levels further strengthens the upward expectation, highlighting a strong potential for further gains.

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The SEC’s accusation of Ripple selling unregistered securities has been one of the biggest factors limiting XRP’s market activity. However, developments in the case and Ripple’s partial victory in July 2023 have opened the door to new hopes for investors. Analysts predict that if the case is resolved positively in 2024, XRP could experience a strong rally.

Critical Stage in the SEC Lawsuit

The lawsuit between Ripple and the SEC is not only significant for XRP but sets a major precedent for the entire crypto market. Ripple has argued that XRP is not a security, countering the SEC’s allegations. In July, a partial victory in court indicated that some XRP transactions cannot be classified as securities.

This development led to a significant surge in XRP’s price. A complete resolution of the case in Ripple’s favor could eliminate regulatory uncertainty surrounding XRP, making it more appealing to both institutional and retail investors.

Ripple has been embroiled in this lawsuit since December 2020, when the SEC accused the company of violating securities laws by selling XRP to institutional investors.

Last year, Judge Analisa Torres ruled that XRP is not a security in certain contexts, but the SEC appealed the decision, keeping the case in limbo.

GSR’s research analyst Carlos Guzman stated that a favorable ruling could act as a major catalyst for XRP’s price.

Guzman: “If the SEC’s appeal is rejected or if new SEC leadership opts for a settlement, it would be a significant win for Ripple.”

The crypto industry is now looking to the incoming administration of newly elected President Donald Trump with hopes for regulatory relief. Trump, set to take office on January 20, plans to nominate Paul Atkins, a known crypto-friendly figure, to head the SEC. Many believe this could create a more favorable regulatory environment for Ripple and other digital assets.

Ripple and XRP: Legal Process and New Opportunities

The possibility of a settlement in Ripple’s ongoing lawsuit with the SEC presents a promising outlook for XRP’s future. GSR analyst Carlos Guzman stated that if new SEC leadership prefers a settlement, XRP could experience a strong rise in market value. Such a legal victory could position XRP among the digital assets eligible for exchange-traded funds (ETFs).

Bloomberg ETF expert Eric Balchunas, while expecting an increase in crypto ETFs under the new administration, mentions that XRP could be one of the first digital assets to be approved in this area. However, Balchunas also points out that ETF approval processes remain lengthy and complex.

Ripple is not only focusing on legal victories but also on technological innovations. The adoption of its new stablecoin RLUSD supports the company’s goal of strengthening XRP’s position as a global payment solution. Guzman predicts that this strategy will enhance XRP’s market power.

Furthermore, the renewed interest from individual investors during the recent crypto rally has reignited demand for XRP. According to Guzman, the individual interest seen in November and December could trigger a new wave of investors for XRP when combined with potential positive developments.

Ripple is preparing to stand out in 2025 with legal victories and technological innovations. As regulatory uncertainties decrease and market dynamics are supported, XRP will continue to be an attractive option for investors.

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