XRP Gains 9% In 7 Days As SEC Case Nears Closure

XRP XRP/USD has gained 9% over the past seven days, buoyed by optimism surrounding the nearing conclusion of the Ripple-SEC lawsuit.

Traders and investors are once again eyeing XRP as a relatively safe altcoin bet, backed by technical patterns and growing market activity.

Trader Notes: Crypto trader Dark Defender pointed out an unusual pattern on XRP's daily chart – a so-called "Silent Candle," where price action stagnated just below a key resistance zone. This could be the calm before a breakout.

On the other hand, Crypto Seth backed fellow trader Dorkchicken's analysis, which highlights that XRP often experiences twin surges during bull markets. He believes a second stage rally may be on deck, if historical patterns repeat.

Despite divided sentiment across Crypto Twitter, XRP maintains strong legacy appeal and is increasingly seen as a safer large-cap altcoin, especially in light of legal clarity.

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Statistics: Coinglass data shows XRP derivatives trading volume expanded by 17% in a single day to $3 billion, while open interest remained relatively flat at $4.15 billion. Options volume and open interest spiked by 85.2% and 26.2%, respectively.

Community News: Ripple CEO Brad Garlinghouse confirmed that both Ripple and the SEC have agreed to drop their respective appeals, effectively bringing their years-long legal battle to an end. "The chapter is closing," he said, adding that Ripple will now refocus efforts on building the Internet of Value.

Ripple’s Chief Legal Officer Stuart Alderoty added that the company may still need to decide whether to challenge the court's earlier ruling on past institutional sales or proceed with the appeal.

XRP's current status as not a security stands firm. "It's business as usual," Alderoty noted.

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• XRP Stuck Below $2.20: Why Is It Not Moving?

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