XRP is testing crucial resistance near $3.65 as soaring ETF approval odds and Ripple’s SEC victory fuel hopes for a breakout.
Ripple’s Legal Win Sparks ETF Optimism and Lifts XRP Price Outlook
XRP’s prospects for a U.S. exchange-traded fund approval have surged after Ripple ended its long legal battle with the Securities and Exchange Commission. Data from prediction platform Polymarket showed odds jumping to nearly 90% on August 8, a 20-point rise in less than a day.
The shift followed a joint filing by Ripple and the SEC to dismiss appeals in the case that began in 2020 over whether XRP is a security. Analysts say the settlement removes a major regulatory obstacle that could have hindered ETF approval.
Bloomberg’s Eric Balchunas now places approval chances at 95%, noting that opposition from Commissioner Caroline Crenshaw is unlikely to sway the outcome. XRP responded with a price spike to $3.36 before settling near $3.24.
Speculation grew that BlackRock might file for a spot XRP ETF, though the asset manager denied current plans. However, market observers insist that it is no doubt a question of time before top companies file for an XRP ETF.
Polymarket odds have gone as high as 98% with legal clarity and institutional interest lifting sentiment. The resolution to this case and the increasing use among treasuries contribute to expectations that XRP might reclaim its July record price soon.
XRP Faces Resistance at $3.65 Amid Profit-Taking Pressure
XRP is at a critical stage following weeks of massive rise in prices and slight downward corrections. The cryptocurrency reached a new record level of $3.65 in mid-July, breaking above the January 2018 peak of $3.40.
That surge triggered profit-taking and a retracement to near $2.70. Since then, buying pressure has lifted prices back above $3.20, but the token remains below the key $3.65 resistance, where a bearish “tweezer top” pattern formed last month.
Technical analysts say this level is a major supply zone that has twice rejected upward moves. Overcoming that region would nullify the bearish reversal pattern and leave the path towards $4.
The Net Unrealized Profit/Loss (NUPL) ratio indicates that many holders are on large gains with levels close to those witnessed during the 2018 and 2021 peaks.
Artificial Intelligence Forecasts Show Bullish Future and Risks For XRP
Three top AI (ChatGPT latest version, Gemini, and Grok) were queried to predict XRP’s price. Each of them referred to the new bullish trend but cautioned against corrections.
ChatGPT called the current phase a “pivotal point” and stressed the importance of holding above $2.70 while reclaiming the $3.40–$3.65 range. A breakout could set the stage for a push to $4 or higher, while a breakdown risks a fall toward the mid-$2 area.
Gemini highlighted Ripple’s favorable legal outcome in its long-standing SEC case as a major catalyst. It said this resolution could pave the way for U.S. approval of a spot XRP ETF.
Such a product could bring significant institutional and retail capital into the market. But neither Gemini nor Grok ignored the threat of whale profit-taking and increasing competition in the payments-focused crypto business. However, analysts warn that factors affecting the market might determine trends in price. This includes the consequences of the trade actions of President Donald Trump and general economic anxiety.
XRP Trades Important Areas as BTC and ETH Rally
XRP’s support levels are $2.99, $2.72 and $2.65, while areas of resistance consist of $3.38, $3.65, and $4.00. Investors are watching out for actions of whale wallets, transaction volume, and ETF news regarding the next breakout or breakdown.
As XRP struggles to overcome resistance, Bitcoin is trading in a downward channel following a robust rally earlier this year. However, a decisive breakout can drive BTC into all-time highs as high as $123,000.
Significant support is at $111,965, whereas a break would result in a further drop into a correction range of $100,000. Ethereum has emerged out of a multi-year symmetrical triangle, pushing above $4,200, a level not seen since 2018.
The action represents the beginning of an intense uptrend aiming toward its former all-time high above $4,800. But the resistance levels are at $4,400, $4,875 and $5,000, while support is at $4,000.
