XRP Price Dips After Ripple-SEC Settlement: Profit-Taking Impact

XRP Price Slides Amid Profit-Taking

XRP experienced a 5% drop within a 24-hour period, settling at key support levels after an initial surge following the Ripple-SEC settlement. The price movement indicates profit-taking activity following the resolution of the long-standing legal battle.

Technical Analysis

XRP's price fell from $3.34 to $3.20 before recovering slightly to $3.30. This represents a 5.24% volatility within the observed timeframe.

Key Observations:

• Sell-off Peak: The most intense selling pressure occurred between 14:00-15:00, with the price plummeting from $3.36 to $3.20 on a volume of 209.67 million.
• Support Defense: Buyers defended the $3.20 level, leading to a rebound to $3.33 by 19:00.
• Resistance & Support: Resistance has formed in the $3.31-$3.33 range, while support is locked at $3.20.

Ripple-SEC Settlement Finalized

The SEC and Ripple Labs have officially concluded their five-year legal dispute by jointly dismissing their appeals in the XRP case. The Second Circuit Appeals Court acknowledged the filing, with each party responsible for their own costs.

"Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” stated Ripple’s chief legal officer Stuart Alderoty.

Key Price Action Points

• XRP dropped from $3.34 to $3.20 during a high-volume selloff (209.67 million tokens traded).
• Buyers established a support level at $3.20, initiating a recovery to $3.33.
• Resistance at $3.31-$3.33 indicates profit-taking is capping further upward movement.

Technical Indicators at a Glance

• $3.20 is confirmed as a key support level, validated by a volume of 209.67 million.
• Resistance is established in the $3.31-$3.33 range during the recovery.
• A potential bull flag structure is forming above $3.28, suggesting possible upside continuation if $3.33 is breached.
• Volume spike of 1.86 million at 01:52 indicates targeted accumulation attempts.
• 5.24% intraday volatility defines the range-bound trade between $3.20 and $3.33.

Market Outlook

Traders are closely monitoring:

• The resilience of the $3.20 support level amid ongoing institutional positioning.
• Potential breakout confirmation above $3.33, signaling the end of the profit-taking phase.
• The impact of post-settlement regulatory clarity on buying activity.
• ETF-related developments stemming from Japan’s SBI filing and their potential influence on U.S. markets.