- XRP’s breakout above $2.7740 could pave the way for a surge toward double digits.
- Since 2023, a 564% surge has set XRP apart from Ethereum, highlighting its growing dominance.
- SEC’s shifting stance on crypto enforcement could favor Ripple’s legal position.
XRP is attempting to reclaim the $2.7740 level, which analysts believe could open the path toward $3. Crypto analyst Dark Defender emphasized that breaking this critical resistance level could push XRP into double-digit territory. The analyst also compared XRP’s market performance to Ethereum, highlighting the asset’s recent outperformance.
Hello all. #XRP is trying to claim the $2.7740 level. If successful, then $3 will be in play.
— Dark Defender (@DefendDark) February 16, 2025
Breaking this channel heralds 2 Digits levels first!
Enjoy your Sunday!#XRPCommunity #XRPArmy, #Ripple pic.twitter.com/n3r7F5Nfst
XRP’s Market Performance Compared to Ethereum
Dark Defender analyzed XRP’s price movements against Ethereum, noting a stark contrast in growth. Between September 2023 and January 2025, XRP surged by 564%, while Ethereum only gained 80%. This difference, according to him, underscores XRP’s increasing dominance in the market. He also criticized those who dismiss technical analysis, asserting that price movement patterns provide valuable insights into future trends.
Here is the #XRP/#ETH pair update.
— Dark Defender (@DefendDark) February 16, 2025
XRP started flipping Ether; take it or leave it.
Massive Success is on its way. https://t.co/BqLdbA7v6f pic.twitter.com/6LIs133QJZ
As of press time, XRP is trading at $2.65, reflecting a 4.08% decline over the past 24 hours. However, the asset has gained 10.69% over the past week. With a circulating supply of 58 billion XRP, its market capitalization stands at $153.16 billion.
Coinglass Derivatives data shows a 4.81% increase in trading volume, reaching $5.99 billion, while open interest dropped 5.97% to $4.06 billion. Additionally, options volume saw a sharp decline of 34.35%, while open interest in options surged by 19.82%.
Technical Indicators Suggest Potential Breakout
Key technical indicators suggest that XRP could be gearing up for a breakout. The Relative Strength Index (RSI) currently sits at 49.92, close to the neutral 50 level, indicating that the asset is neither overbought nor oversold. If RSI moves above 60, bullish momentum could strengthen significantly.
The Moving Average Convergence Divergence (MACD) also shows promising signs. The MACD line remains slightly positive at 0.02205, while the signal line remains in negative territory. This suggests a potential bullish crossover, which could trigger further upward price movement.
SEC Developments Could Impact XRP’s Future
Speculation is rising about a possible withdrawal of the SEC’s appeal in the Ripple case. Since the SEC filed its appeal-related opening brief on January 15, changes within the regulatory agency have led to expectations of a shift in enforcement strategy. Acting Chair Mark Uyeda has appointed Commissioner Hester Peirce to lead the Crypto Task Force, which could oversee non-fraud-related crypto cases.
Legal experts believe the absence of fraud findings in the Ripple case increases the likelihood of an appeal withdrawal. In a previous statement, Uyeda criticized the SEC’s enforcement approach, stressing the need to shift focus. Paul Atkins is also expected to adopt a more pro-market stance, which could benefit the cryptocurrency sector.
