XRP Breaks Key Resistance After Ripple-SEC Win — Is $8 Next?

XRP extended its bullish run in the 24-hour session from August 13 at 04:00 to August 14 at 03:00, climbing from $3.24 to $3.33 for a 3.10% gain. Price action carved out a $0.14 corridor between $3.20 and $3.34, reflecting 4.20% volatility amid pronounced institutional buying. The most aggressive move came at 13:00 when XRP pierced resistance at $3.27 on 217.4 million volume—nearly triple the 24-hour average—followed by sustained overnight accumulation with volumes above 117 million in consecutive hours. Support solidified in the $3.20-$3.22 zone, while profit-taking emerged at $3.34 into the session close. Price Action Summary XRP gained 3.10% over the period, moving from $3.24 to $3.33, with a high of $3.34 and a low of $3.20. Breakout through $3.27 resistance on 217.4 million volume at 13:00 signaled large-scale accumulation. Multiple overnight sessions posted volumes well above the baseline 81.7 million, reinforcing upward momentum. Fresh support established at $3.33 following intraday highs of $3.34; immediate upside targets seen at $3.35-$3.36. News Background Ripple and the SEC formally withdrew all appeals, concluding years of litigation and removing regulatory uncertainty. Analysts are drawing parallels to XRP’s 2017 breakout phase, with some projecting potential targets in the $6-$8 range on sustained momentum. Institutional flows are driving market structure shifts, with visible liquidity absorption at key resistance levels. Technical Analysis Price band: $3.20-$3.34, volatility: 4.20%. Key breakout level: $3.27 resistance cleared on extreme volume. Primary support: $3.20-$3.22 zone with strong volume validation. Overhead resistance: $3.34 with profit-taking pressure into close. Intraday micro-structure supports continuation toward $3.35-$3.36. What Traders Are Watching Whether $3.33 support holds to enable a push toward $3.40 in the short term. Sustained institutional volume above baseline levels as a sign of deeper accumulation. Broader market reaction to Ripple’s legal clarity, including potential spillover into altcoins with regulatory overhangs.

Source: CoinDesk