XRP is once again in the spotlight as renewed legal optimism, increased investor activity, and improving market sentiment converge to fuel upward momentum in the Ripple-backed token.

After years of being weighed down by regulatory uncertainty, XRP appears to be gaining the confidence of traders and institutions alike—pushing closer to the symbolic $3 mark.

XRP Price Sees Modest Gains, But Trading Volume Tells a Bigger Story

As of Monday, June 16, the XRP price stands at $2.29, reflecting a 5.84% increase in the past 24 hours. While this daily rise may seem moderate, it comes alongside a notable surge in trading volume. According to on-chain data, over $1.9 billion worth of Ripple crypto was exchanged during this period, pointing to a growing appetite from investors who believe XRP value could soon climb much higher.

XRP was trading at around $2.292, up 5.8% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

This uptick follows a broader week-long gain of 1.71%, bringing the total Ripple market capitalization to roughly $129 billion. Analysts interpret the high volume as a signal of potential accumulation ahead of a larger price movement.

Ripple Shakes Off Legal Uncertainty with SEC Settlement Optimism

A major catalyst behind the fresh confidence in XRP is the progress in the long-running Ripple lawsuit. On June 12, Ripple and the U.S. Securities and Exchange Commission (SEC) submitted a renewed motion for settlement—this time addressing prior procedural issues that led to a rejection in May.

Lawyer Bill Morgan anticipates a major breakthrough in the SEC v. Ripple case today. Source: JackTheRippler via X

The updated filing proposes a reduced $50 million penalty and the cancellation of the remaining $125 million fine, marking a sharp turnaround in the regulatory standoff. Prominent crypto lawyer John Deaton weighed in, stating there’s now a “70% chance” that Judge Analisa Torres will approve the revised motion. If so, it could bring long-awaited closure to the XRP SEC lawsuits, offering the kind of regulatory clarity that investors have long demanded.

“Clarity is a powerful market driver,” said Deaton. “A favorable ruling here could finally unshackle XRP from the regulatory baggage it’s been carrying for years.”

Technical Indicators Suggest Bullish Continuation Toward $3.40

On the technical front, XRP is showing signs of a breakout from a falling wedge formation—a classic bullish reversal pattern. A daily close above $2.25 would confirm this move and set the stage for a rally toward $3.40, representing a 40% upside from current levels.

Ripple is rebounding from the lower boundary of a symmetrical triangle on the 4H chart, with a breakout potentially targeting $3.40. Source: Whales_Crypto_Trading via X

This pattern isn’t new for Ripple XRP news followers. Historical price cycles have shown that XRP often trades sideways for extended periods before executing sharp upward surges. Now trading above key moving averages, the token appears technically positioned for a bullish continuation, especially if macro conditions remain supportive.

Market Sentiment Remains Supportive Amid Broader Crypto Rally

The latest Ripple news comes against the backdrop of a broader crypto resurgence. Bitcoin has reclaimed the $107,000 mark, Ethereum has pushed above $2,600, and Solana has jumped over 8% to $156. The total crypto market cap has now crossed $3.34 trillion, a 2.2% rise that reflects a return to “risk-on” behavior among global investors.

Despite a dip in the Crypto Fear & Greed Index from 71 to 61, sentiment remains firmly in “greed” territory—indicating that there’s still room for upside without entering overheated territory.

What’s Different About This XRP Rally?

This time, XRP news isn’t being driven solely by hype or speculative momentum. The latest rally seems to be supported by a combination of favorable legal developments, strong technicals, and growing belief in Ripple’s long-term strategy.

The steady rise in XRP Ledger addresses signals ecosystem growth, suggesting increased demand that could drive XRP’s price higher. Source: CW via X

“Unlike speculative pumps we’ve seen in the past, today’s price action feels grounded in something more substantial,” said one market analyst. “Between the progress in the SEC Ripple case and growing use cases across the Ripple ledger and RippleNet, this rally could have more legs.”

Looking Ahead: Can XRP Break Past Resistance?

At the time of writing, XRP is hovering around $2.29. If it successfully breaks and closes above this level, the path toward the $3 mark may open. However, traders should remain cautious, as continued legal clarity and sustained market momentum will be critical to realizing any XRP price prediction near or beyond $3.

With a decision from Judge Torres expected soon, all eyes remain on the courtroom as much as the charts. Should Ripple secure a favorable ruling, the Ripple currency price could finally catch up to the fundamental progress made over the past year.