16-7-2025 – XRP has soared to $2.92, outperforming major cryptocurrencies like Bitcoin and Ethereum, driven by a combination of technical strength and significant regulatory developments. The token’s 3% daily gain, marks its highest level since early 2021, breaking key resistance levels at $2.60 and $2.90, with trading volume signaling robust investor interest. Technical indicators underscore the rally’s momentum.
The Relative Strength Index (RSI) at 81 indicates strong buying pressure, while the Average Directional Index (ADX) at 34 confirms a solid bullish trend. A crossover of the 50-day and 200-day exponential moving averages further supports the optimistic outlook, with high trading volume between $2.00 and $2.40 establishing a firm support zone. South Korean traders have been a key driver, amplifying XRP’s momentum in a market where total crypto capitalization holds steady above $3.3 trillion. On the regulatory front,
Ripple’s legal battle with the SEC concluded in June 2025, with the agency dropping its appeal, affirming a 2023 ruling that XRP sales on secondary platforms are not securities violations. This resolution, coupled with Ripple’s July 2 application for a U.S. national banking license from the Office of the Comptroller of the Currency, positions the company for greater institutional trust. Additionally, eleven asset managers, including ProShares, have filed for spot XRP ETFs, with Polymarket estimating an 85% chance of approval by year-end.
These developments signal XRP’s potential shift from a contested asset to a mainstream financial instrument. The market is now closely monitoring the OCC’s decision on Ripple’s banking license and the SEC’s stance on XRP ETF applications, which could trigger further price movement.
