XRP (XRP-USD) is on a winning streak after posting double-digit gains, surging past $3.30 following news that Ripple and the U.S. Securities and Exchange Commission (SEC) have agreed to end their years-long legal battle. Traders responded instantly, pushing futures volumes up by more than 200% and setting the stage for a technical breakout that could send XRP toward $4.50 in the coming months.
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Ripple Lawsuit Closure Sparks Price Reaction
The price move began shortly after the SEC and Ripple filed to dismiss their legal appeals, effectively bringing the high-profile case to a close. This marks a major milestone for Ripple, which has spent years locked in a legal standoff that cast a shadow over XRP’s market position.
With the lawsuit out of the way, investors quickly rotated back into the asset. XRP gained more than 10% since Thursday and has broken out of a key consolidation pattern, giving bulls new momentum as legal uncertainty fades.
XRP Futures Volume Surges Past Solana
Futures traders piled into XRP following the lawsuit news. According to Glassnode, XRP futures volume jumped by over 200% in the last 24 hours to reach $12.4 billion, overtaking Solana’s $9.6 billion. Open interest also climbed 15%, reaching roughly $5 billion.
This spike in derivatives activity points to a rush of speculative positioning. Funding rates remain slightly positive, signaling that most traders are betting on continued upside. However, this also increases the risk of liquidations if price reverses sharply, particularly with heavy long exposure building up.
Whale Zones Form Critical Support Near $2.80
Glassnode data shows the $2.80 to $2.82 range as a major cost basis cluster, with more than 1.7 billion XRP acquired at that level. This area is now a critical zone of interest, as traders sitting on profit may look to defend their positions if price starts to retrace.
These levels could act as both psychological and structural support. If the rally continues, this range may turn into a base for the next leg higher, especially if volume remains elevated.
Bull Flag Breakout Targets $4.50 by October
Technically, XRP’s price has broken out from the upper trendline of a classic bull flag formation. Volume has risen alongside price, confirming the breakout strength. Analysts typically project bull flag targets by adding the prior flagpole’s height to the breakout point, which puts XRP’s target near $4.50.
If momentum continues and macro conditions align, the $4.50 level could be reached as soon as September or October. A potential Federal Reserve rate cut during that period could further support risk assets, including altcoins like XRP.
Analysts Raise Long-Term XRP Targets
Market analysts have taken notice. Milkybull Crypto recently projected a price between $5 and $8 by the end of 2025, while another trader known as Dom suggested XRP could reach as high as $10 in the same time frame.
For now, traders are watching whether the current breakout holds and if volume sustains through the next resistance levels. At the time of writing, XRP is sitting at $3.3211.
