Ripple-SEC Settlement Surge Fades as XRP Falls 5% Due to Profit-Taking

XRP experiences a significant selloff, moving through critical levels before stabilizing at major support. Regulatory clarity follows the Ripple-SEC settlement.

Technical Analysis Overview

XRP declined 5% in the 24-hour period ending August 9, falling from $3.34 to $3.20 before rebounding to $3.30. This movement covers a $0.17 range, indicating 5.24% volatility.
Selling pressure peaked between 14:00-15:00, causing the price to drop from $3.36 to $3.20 on a volume of 209.67 million — the highest single-hour transaction of the session.
Buyers defended the $3.20 level, resulting in a rebound to $3.33 by 19:00. Resistance was formed at the $3.31-$3.33 range, with support solidified at $3.20.

News Background

The SEC and Ripple Labs have officially concluded their five-year legal dispute, mutually dismissing their appeals in the XRP case. The Second Circuit Appeals Court has acknowledged this filing, with both parties covering their own costs.

“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” stated Ripple’s chief legal officer Stuart Alderoty.

Price Action Summary

• XRP slid from $3.34 to $3.20 between August 8, 14:00-15:00 during a high-volume selloff, with 209.67 million tokens exchanged.
• Buyers defended the $3.20 support level, igniting a recovery to $3.33 by 19:00.
• Resistance developed at $3.31-$3.33 as profit-taking curtailed upside momentum.

Technical Indicators Analysis

• $3.20 confirmed as a crucial support level, validated by the volume of 209.67 million.
• Resistance established at $3.31-$3.33 during the recovery phase.
• A bull flag structure is forming above $3.28, indicating potential upside continuation if $3.33 is breached.
• A volume spike to 1.86 million at 01:52 indicates targeted accumulation efforts.
• The 5.24% intraday volatility emphasizes a defined range-bound trade between $3.20 and $3.33.

What Traders Are Watching

• Monitoring whether $3.20 holds on the next retest amidst continued institutional positioning.
• Confirmation of a breakout above $3.33 to indicate the conclusion of the profit-taking phase.
• Follow-through buying linked to post-settlement regulatory clarity.
• ETF-related movements from Japan’s SBI filing and potential spillover into U.S. markets.