XRP (XRP-USD) is on the verge of a major breakout. The token has been consolidating inside a descending triangle since hitting a seven-year high of $3.40 in January. But now, it’s pushing against a critical resistance level at $2.30, and if it breaks through, a surge to $3.40 could be in play—a potential 46% gain, according to Cointelegraph. With Ripple securing a key Dubai license and its SEC case nearing resolution, these fundamental catalysts could further fuel the rally.
Crypto analyst CrediBull Crypto pointed out that XRP’s recent dip below $2.00 provided an ideal entry point for buyers. Now, as the price forms higher lows, momentum is building. If XRP clears the $3.00 psychological level, the path toward its multi-year high at $3.40 becomes a lot clearer.
Ripple’s Dubai License and SEC Case Fuel Optimism
Beyond technicals, Ripple has secured its first-ever regulatory approval in the Middle East. The Dubai Financial Services Authority has greenlit Ripple’s crypto payment service. This approval grants Ripple access to the U.A.E.’s $40 billion remittance market.
Following the announcement, XRP’s price jumped 6% to $2.34. Crypto commentator Vincent van Code called the approval a “game-changer,” saying it positions Ripple as a leader in regulated crypto payments.
Meanwhile, Ripple’s battle with the U.S. Securities and Exchange Commission (SEC) could finally be nearing an end. Fox Business reporter Eleanor Terret revealed that both parties might drop their appeals, with sources suggesting the SEC’s new leadership is shifting away from aggressive crypto enforcement.
If the case officially wraps up, it could remove a major cloud hanging over XRP—just in time for a breakout. At the time of writing, XRP is sitting at $2.3147.
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