XRP price surged 8% following the SEC’s withdrawal of its request to classify certain cryptocurrencies as securities in the Binance case. Speculation about a potential settlement in the Ripple lawsuit, fueled by pro-XRP counsel Fred Rispoli, adds to the optimism.
Russia’s new bill allowing international crypto payments further boosts XRP’s significance, especially after Ripple’s collaboration with FENASBAC in Brazil.
Technical indicators show a bullish trend, with XRP breaking out from a bullish pennant. Immediate resistance is at $0.74, with potential targets of $0.84 and $0.93. However, overbought conditions may lead to a short-term correction.
