Cryptocurrency XRP has reached a local maximum value

The XRP cryptocurrency XRP $2.35 XRP 5.17% Market capitalization $137.74 billion VOL. 24 hours $0.75 billion has overcome an important resistance level at $ 2.26 and reached a local high of $ 2.33, which opens up the potential for further growth to $ 2.60. This estimate was made public by popular analyst Ali Martinez, who noted that if the day closes above this level, the price may accelerate. This is the most significant price advance of XRP in the last 11 days.

After returning to the $ 2 mark in mid-April, XRP was trading between $ 2 and $ 2.26. Despite several attempts by sellers to reduce the price to psychological support, the asset remained above critical levels. A rise above $ 2.26 could signal a breakout from a protracted sideways trend.

The growth of XRP coincided with the positive dynamics of the entire crypto market, which has added about $ 300 billion in capitalization in recent days. However, a more important factor is the filing of a petition with the US Securities and Exchange Commission (SEC) to the court to approve a settlement agreement with Ripple Labs. It is a settlement of the case that lasted more than four years.

According to the filed documents, the SEC agreed to a $ 50 million fine, which is significantly less than the initial $ 2 billion demand and even lower than the $ 125 million interim ruling. This reinforces Ripple’s statements about the end of the litigation, which had long weighed on XRP’s price.

There is growing optimism among the XRP community that the price will continue to rise. Analysts believe that the token now has a chance to become one of the main beneficiaries of the current market phase if legal uncertainty finally disappears.