Kevinles

Key TakeawaysXRP futures volume soared 200% in 24 hours to $12.4B, surpassing Solana.Price broke out of a bull flag pattern, with a $4.50 target by September–October.Ripple and SEC agreed to dismiss all legal appeals, ending the years-long lawsuit.Open interest climbed 15% to $5B, with most traders taking long positions.$2.80–$2.82 zone emerges as key support; Fed rate cut in September could add upside momentum.XRP (XRP) surged over 10% to $3.33 after Ripple and the U.S. Securities and Exchange Commission (SEC) agreed to drop all remaining legal appeals, marking the official end of their multi-year court battle.The legal resolution unleashed a wave of speculative activity, with XRP futures trading volume jumping 200% in 24 hours to $12.4 billion, overtaking Solana’s $9.6 billion, according to Glassnode.Futures and On-Chain Metrics Show Bullish Tilt — But Risk of LiquidationsOpen interest — the total value of unsettled futures contracts — climbed 15% to $5B, with XRP’s daily funding rate at +0.01%, signaling a bias toward long positions. While this reflects bullish sentiment, Glassnode warned that heavy long positioning can leave traders vulnerable to cascading liquidations if prices reverse.On-chain cost basis data shows a large 1.7 billion XRP acquired between $2.80 and $2.82, suggesting strong holder support in that range. This cluster may act as a buffer during potential pullbacks.Bull Flag Breakout Targets $4.50XRP’s latest move pushed it above the upper trendline of a bull flag — a bullish continuation pattern that often signals further upside. Rising volume during the breakout added confirmation.Applying the traditional bull flag target calculation — adding the height of the previous rally to the breakout level — yields a price objective above $4.50, roughly 35% above current levels. Analysts expect this target could be reached by September or October.Macro Tailwinds Could Support RallyA potential Federal Reserve rate cut in September could increase demand for risk assets, providing an additional catalyst for XRP’s next leg higher.Market commentators remain optimistic:Mikybull Crypto sees XRP rising to $5–$8 by year-end.Dom projects as high as $10 in the current cycle.XRP’s breakout above $3.30, combined with record futures activity and a major legal overhang removed, has shifted sentiment decisively bullish. But with leveraged longs building quickly, traders face the dual risk of rapid upside — and sharp corrections if momentum stalls, according to Cointelegraph.