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2 months ago
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XRP surged more than 13% on Friday as the Ripple-SEC case came to a conclusive end.
Updated Aug 9, 2025, 4:38 a.m. Published Aug 9, 2025, 4:34 a.m.
(CoinDesk Data)
What to know:
- XRP experienced a 5% drop in value before stabilizing, with significant trading volume highlighting institutional activity.
- The SEC and Ripple Labs have concluded their legal dispute, providing regulatory clarity for XRP.
- Japan's SBI Holdings has filed for a Bitcoin-XRP ETF, potentially influencing future market dynamics.
XRP slides through key levels in a high-volume selloff before stabilizing at major support, with regulatory clarity now in place after the Ripple-SEC settlement.
Technical Analysis Overview
XRP falls 5% in the 24-hour period ending August 9, dropping from $3.34 to $3.20 before recovering to $3.30. The move spans a $0.17 range, marking 5.24% volatility.
Selling pressure peaks between 14:00-15:00, when price collapses from $3.36 to $3.20 on 209.67 million volume — the largest single-hour print of the session.
Buyers defend the $3.20 zone, triggering a rebound to $3.33 by 19:00. Resistance forms at $3.31-$3.33, with support locked at $3.20.
News Background
The Securities and Exchange Commission and Ripple Labs have officially ended their five-year legal battle, jointly dismissing their appeals in the XRP case. The Second Circuit Appeals Court recognized the filing, with both parties bearing their own costs.
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer Stuart Alderoty said on X.
Price Action Summary
• XRP drops from $3.34 to $3.20 between August 8 14:00-15:00 in a high-volume selloff, printing 209.67 million tokens traded
• Buyers defend $3.20 support, sparking recovery to $3.33 by 19:00
• Resistance builds at $3.31-$3.33 as profit-taking caps upside momentum
Technical Indicators Analysis
• $3.20 confirmed as key support with volume validation at 209.67 million
• Resistance established at $3.31-$3.33 during recovery phase
• Bull flag structure forming above $3.28, suggesting potential upside continuation if $3.33 breaks
• Volume spike to 1.86 million at 01:52 indicates targeted accumulation attempts
• 5.24% intraday volatility highlights defined range-bound trade between $3.20 and $3.33
What Traders Are Watching
• Whether $3.20 holds on the next retest amid continued institutional positioning
• Breakout confirmation above $3.33 to signal end of profit-taking phase
• Follow-through buying linked to post-settlement regulatory clarity
• ETF-related flows from Japan’s SBI filing and potential spillover into U.S. markets
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
CD Analytics
CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
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