Technical Breakout Eyes $8 for XRP as Ripple’s Legal Battle Nears Conclusion

XRP Breaks Higher on Legal Clarity, Surging Institutional Demand and Technical Strength

XRP rallied sharply on August 8, piercing key resistance zones as trading volume surged to 300 million amid heightened institutional activity. A combination of favorable technical signals and a significant legal breakthrough has reignited bullish sentiment.

The surge follows the formal conclusion of the U.S. SEC’s lawsuit against Ripple, with both parties dropping their appeals and agreeing to cover their own legal costs. This outcome removes a multi-year regulatory overhang and paves the way for increased institutional adoption of XRP in U.S. markets.

XRP climbed 11% within 24 hours, jumping from $2.99 to $3.30, with the most aggressive buying seen between 19:00 and 22:00 UTC. The token traded in a tight consolidation band between $3.30–$3.33, suggesting strong buyer commitment above former resistance. Analysts now point to bull flag formations, which could signal a potential move toward the $8–$15 range over the coming months.

A separate bullish catalyst came from Japan’s SBI Holdings, which filed to launch a spot Bitcoin-XRP ETF, introducing a parallel demand driver and reinforcing XRP’s positioning as a high-beta play in the crypto ETF narrative.

Technical Recap

Price Action: +11% daily gain; XRP moved from $2.99 to $3.30 with a 12% trading range.
Volume: Peak trading volume of 300M at 21:00 UTC signals deep institutional participation.
Resistance/Support: New resistance formed at $3.33; strong support emerging above $3.30 post-breakout.
Pattern: Bull flag formation confirmed; upward continuation likely if trend holds.

Legal and Market Developments

The SEC and Ripple officially ended their appeals in the Second Circuit, effectively closing one of the most high-profile crypto legal battles.
Ripple’s Chief Legal Officer, Stuart Alderoty, announced the joint filing on X (formerly Twitter), marking the final step in the legal saga.
The dismissal clears the path for greater U.S. institutional involvement in XRP markets.

Outlook

With legal risks resolved and a major breakout confirmed on volume, XRP appears poised for continued upside. If ETF momentum persists and broader crypto sentiment remains constructive, analysts say XRP could be among the top performers in the next leg of the bull cycle.