XRP Breakout As Network Activity Rises Amid SEC Case Optimism
Key Insights:
- XRP broke out of a symmetrical triangle, confirming bullish momentum with substantial volume and a bullish MACD crossover.
- XRP active addresses rise after an early April dip, signaling renewed on-chain engagement and potential for further price growth.
- The token gained momentum as Ripple settled its SEC case, reducing penalties and clearing regulatory uncertainty, boosting investor optimism.
XRP bounced back above $2 following a pause on tariffs. These tariffs have impacted financial markets globally under U.S. President Donald Trump. This rebound highlighted a positive shift in the XRP price prediction.
XRP Price Prediction: Bullish Breakout and Investor Confidence
The 1-hour time frame chart for XRP price created a typical bullish breakout pattern from a symmetrical triangle shape. The price experienced accumulation throughout the symbolized triangle pattern. This created convergent trendlines.
The cryptocurrency repeatedly tested its upper trendline boundary as prices climbed. This pattern reflects bullish momentum, supporting an optimistic XRP price prediction.
The price breakthrough happened with vigorous volume activity showing up at the moment of the breakout. It surpassed resistance at $2.05 before establishing a new trading position above $2.16, indicating intense buying pressure.
The volume profile displayed a major high-volume cluster at $2.00 that functioned as a persistent support level. XRP price prediction suggests bullish momentum as the MACD line crosses above the signal line. This upward trend is reinforced by the MACD line remaining above its histogram.
The breakout momentum remained bullish since the technical indicators show clear signs of bullishness. This technical configuration presented a robust breakthrough that represents ongoing price growth potential.
The surge happened during a period linked to Ripple’s SEC legal battle resolution. This event restored investor confidence in XRP.
Network Activity Rebounds as Momentum Builds
Alternatively, analyzing the active addresses for XRP demonstrated a significant decrease on April 3. The number of active addresses experienced a substantial decline when it fell from above 200K to around 170K.
The active address volume later stabilized after its sharp decline, ascending toward 178K. The rising network transactions indicated investors have become more involved because of increasing confidence in XRP and enhanced blockchain participation.
The increase in active addresses validated the XRP price uptrend. This breakthrough surpassed the $2.05 resistance, marking the end of an extended consolidation phase.
Rising active user wallets also signify enhanced user participation on the XRP network because more users connect with wallet addresses. Active price rallies often occur during or shortly before market price increases, aligning with a bullish XRP price prediction.
Ripple’s network activity growth and price appreciation demonstrate growing expectations among investors.
Ripple’s Legal Victory Marks a Turning Point
Ripple Labs has settled its major lawsuit against the U.S. SEC in San Francisco, CA. This represents a key advancement in cryptocurrency affairs.
The SEC filed its lawsuit against Ripple in 2020 because it claimed XRP’s sales functioned as unlicensed security transactions.
The final agreement between Ripple and the SEC includes a $50 million penalty, pending SEC and judicial approval. The original demand of $2 billion was reduced to $125 million and then further to $50 million.
Chief Legal Officer Stuart Alderoty of Ripple declared the deal a success. The SEC will only keep $50 million from the $125 million penalty. At the same time, they would return the remaining $75 million from escrow.
The agreement presents Ripple with a dual benefit by requiring the company to drop its outstanding cross-appeals. This helps resolve previous regulatory issues concerning XRP.
The settlement has generated fresh hope within the crypto market sector. During that week, XRP achieved a 23% increase, resulting in its price reaching $2.16.
The market value of XRP has increased due to heightened investor optimism and building interest in potential XRP-spot exchange-traded funds. Per his recent comments, Ripple CEO Brad Garlinghouse pointed out that the settlement creates new possibilities for defining cryptocurrency regulations.
The industry experts’ observations indicate that this settlement will empower Ripple to extend its worldwide operations. On the other hand, this amplifies XRP adoption in international payment transactions.
