• XRP gains momentum after a key legal victory, boosting market confidence and optimism.
• The cryptocurrency eyes a potential breakout, with $3.30 identified as the next significant target.
• Support holds near $2.73, maintaining the positive trend and signaling further upside potential.

XRP is showing strong upward momentum, supported by recent favorable legal developments. Market confidence is growing as optimism spreads. Monitoring key levels is crucial to sustaining the current trend.

At the time of writing, XRP is trading at $3.04 with a 24-hour trading volume of $16.34 billion and a market capitalization of $181.02 billion. XRP has seen a notable 6.16% increase over the past 24 hours, signaling renewed interest from the crypto community.

Second Circuit Grants XRP Legal Victory

Amid XRP’s new momentum, defense attorney James K. Filan has revealed that the Second Circuit granted the Joint Stipulation of Dismissal, a court matter closely followed by both investors and supporters.

XRP Set for Major Breakout and Surge

Prominent crypto analyst EGREG CRYPTO posted a positive forecast, noting that the next important target for XRP is $3.30. As the analyst believes, the daily price action beneath this mark is “just noise”; the real momentum will come once the price closes above $3.30, a threshold that will set the stage for additional upswings.

On the downside, $2.73 remains a firm support point. Maintaining the level will sustain the positive trend, experts say. On the back of favorable legal news and rising market interest, XRP looks ready for a possible breakout in the near future.

Also Read | XRP Shows Bullish Momentum as Market Eyes Potential $10 Breakout

XRP Derivatives See Strong Activity

XRP derivatives trading spiked as volume surged by 146.26% to $17.31B, while open interest grew by 12.71% to $8.36B. This upsurge indicates stronger market participation, suggesting increased momentum in the XRP market.

Consequently, the OI weighted funding rate stood at 0.0112%, demonstrating stability despite the surge in activity. This indicates a healthy XRP derivatives market, while analysts closely monitor the next price move.

Also Read | XRP Price Forecast: Bearish Signals Dominate but $3.41 Target Still in Play