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The XRP price soared 3% in the last 24 hours, trading at $2.18 as of 12:07 a.m. EST, on a 12% surge in daily trading volume to $2.8 billion.
This comes as Ripple Labs announced that it will withdraw its cross-appeal against the US Securities and Exchange Commission (SEC) in the ongoing legal battle tied to the sale of its tokens.
Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in. https://t.co/ZsRgDfcpLh
— Brad Garlinghouse (@bgarlinghouse) June 27, 2025
“We’re closing this chapter once and for all,” said Ripple Labs CEO Brad Garlinghouse, adding that the SEC was also expected to drop its appeal.
The stand could bring the dispute closer to resolution after years of back-and-forth between the company and the regulator over the token’s status as a security.
What does this mean for the price of XRP?
XRP Price Breakout Signals A Continued Uptrend
The XRP price chart on the daily timeframe reveals a recent breakout from a falling wedge pattern, a typically bullish reversal structure. The wedge has now been breached to the upside, with the price of XRP currently trading at $2.18.
This breakout suggests a potential trend reversal from the prior downtrend. The Ripple token price is now approaching the key resistance near the 50-day Simple Moving Average (SMA), currently at $2.26, which may act as a short-term barrier.
Meanwhile, the Relative Strength Index (RSI) sits at 50.10, indicating a neutral momentum but showing improvement from previously oversold conditions. This suggests the price of Ripple token is currently balanced between buyers and sellers but with a slight bullish tilt.
The Moving Average Convergence Divergence (MACD) blue line has crossed above the orange signal line, and the histogram has flipped to green, further confirming bullish momentum is building.
If the XRP price continues to ride on the positive news from the Ripple trial, the token could aim for a long-term target of $3.29.
XRP/USD Chart Analysis (Tradingview)
However, failure to maintain above the $2.13 level on the 50% Fibonacci support zone could invalidate the bullish outlook and see a retest of the $1.84 or even $1.61 levels.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO crypto called Snorter Token (SNORT). According to Jacob Crypto Bury, a popular crypto YouTuber with over 56.9K subscribers, SNORT could soar 100X on launch.
Snorter Token Blasts Towards $1.5 Million In Fast-Growing Crypto Presale – Next 100X Crypto?
Snorter Token is a new Solana-based meme coin that has already raised $1.35 million in its ongoing presale.
The project blends lightning-fast swaps and low fees with a meme coin twist. Thus, it brings a fresh take to a space often dominated by complexity.
Unlike browser-based tools, Snorter runs directly within Telegram, enabling users to perform sub-second swaps, automate sniping, and track portfolios in real-time.
Snorter Bot also brings powerful tools like copy trading, limit orders, and scheduled buys. These features give traders more ways to manage their portfolios.
🚨 Snorter Bot is now live in Best Wallet! 🚨@SnorterToken is building a powerful multi-chain Telegram trading bot designed for speed, transparency, and automation.
Snorter Bot will give users the ability to access lightning-fast trades and real-time execution directly from… pic.twitter.com/EqkWxGMcQy
— Best Wallet (@BestWalletHQ) May 28, 2025
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions.
Snorter Bot beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution costs from 1.5% to 0.85%, undercutting other Telegram crypto trading bots.
In addition to its trading features, staking rewards currently sit at 249%, which decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0967. Tokens can be bought with SOL, ETH, BNB, or bank card, and staked directly on the official site.
Interested investors will want to buy before the next presale price hike in approximately 3 days.
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