XRP price surged over 10% after the SEC dropped its lawsuit against Ripple, raising optimism across the token

After Solana ETF, the demand for an XRP ETF rises, hinting towards a potential bull run for the token in the coming days

The cryptocurrency markets have been consolidating ahead of the FOMC meeting, and any change in the interest rates is expected to influence the tokens heavily. However, no sooner than the FOMC rates remained unchanged, the tokens gained strength, and the crypto space rejoiced when the Ripple CEO, Brad Garlinghouse, announced the end of an ongoing lawsuit with the SEC.

Annually, the crypto executives make outlandish predictions about the tokens, which never come to fruition. But this time, the CEO’s predictions may come true as he is making claims about an XRP ETF and the token being part of the White House’s digital asset reserves. With this, the XRP price has surged past $2.5 and is testing the local resistance. However, the bears are restricting the rally but it may not be for more time as the price is at the foothill of a massive explosion.

What Next For The XRP Price?

The XRP price has surged past the descending trend line, which has attracted some bearish pressure. However, the rally remains above the gains, hinting towards an extended bullish action. On the other hand, the Ichimoku cloud is heading for a bullish crossover, as the bearish influence over the token fades.

Moreover, the MACD is aiming to rise within a bullish range that could further offer enough boosts to the XRP price rally. Presently, the price is holding the base line of the Ichimoku cloud as a strong support, which is expected to trigger a strong rise soon. However, the token is required to rise and secure the resistance at $2.88, which may offer a strong base to keep up the momentum.

Now that the price is just 28% away from it’s ATH at $3.85, the upcoming developments are expected to push the XRP price towards a new ATH.