- XRP’s historic three-day candle closure signals growing market optimism.
- Legal challenges fail to deter XRP, showing resilience and investor confidence.
- Technical indicators suggest sustained bullish momentum for XRP in the short term.
XRP has made history by achieving its highest-ever three-day candle closure, according to EGRAG CRYPTO, a leading market analyst. This milestone highlights the cryptocurrency’s resilience and growing market confidence despite ongoing regulatory pressures. With a live price of $3.12 and a trading volume exceeding $23 billion in the past 24 hours, XRP’s 14% surge underscores its bullish trajectory.
Historic Candle Closure Significance
XRP reached a historic three-day candle closure, reflecting strong buying pressure and market support. Analysts believe this record-breaking moment demonstrates significant market optimism for XRP, despite uncertainties surrounding the Ripple-SEC litigation. EGRAG CRYPTO’s analysis emphasizes that XRP’s sustained growth indicates increasing investor confidence in its potential long-term value.
Market Reaction to SEC Developments
XRP has consistently shown resilience against SEC-related developments. Analyst Moon Lambo highlighted XRP’s ability to recover quickly after adverse announcements. For instance, the December 2020 SEC lawsuit led to a week-long decline, erasing $15 billion in market value.
In contrast, recent legal updates, such as the SEC’s October 2024 appeal notice and January 2025 filing, triggered only brief, minor price dips of around 5-6%. This shift reflects the market’s diminishing concern over litigation risks and stronger focus on XRP’s utility and adoption.
Technical Indicators Signal Bullish Momentum
XRP’s current Relative Strength Index (RSI) stands at 75.15, indicating overbought conditions. While this suggests a potential short-term pullback, the prevailing bullish trend might sustain the elevated levels.
The Moving Average Convergence Divergence (MACD) confirms strong bullish momentum as the MACD line remains above the signal line. It is also supported by a positive histogram that signals increasing buying pressure.
