XRP Price Pumps 10% as SEC Closes Meeting – Analyst Eyes $3

Highlights:

• XRP price has spiked 10% to $2 as Trump pauses trade tariffs.
• SEC has closed the meeting, with investors hoping for the end of the XRP Vs. SEC lawsuit.
• A crypto analyst highlights a potential rally to $3 in XRP price.

The XRP price has reclaimed the $2 mark, up 10% in the past 24 hours. The XRP market is bullish today as the Trump tariff pause has caused a market-wide recovery rally. This could be because of some bullish XRP news as well. One possible bullish development is an update on the XRP SEC lawsuit from today’s SEC meeting. As such, we may see a greater XRP price surge in the coming days. 

However, the SEC has closed the door meeting, so today, we may get an official ending for the XRP SEC lawsuit. In March, Ripple’s CEO mentioned that the XRP SEC case was over and that the SEC could drop its appeal. And in March, Ripple’s chief legal officer, Stuart Alderoty, released his related statement. Ripple is also backing off from its appeal against the SEC. Will the XRP Price soar toward $3? 

TODAY SUNSHINE ACT NOTICE CLOSED MEETING ‼️

HOPPING FOR GOOD NEWS 👊🏻 pic.twitter.com/M7BVlMn5hr

— XRP Update (@XrpUdate) April 10, 2025

The XRP price trades well within a descending parallel channel, as it has reclaimed the $2 mark. The bulls have established strong support around $1.86, which coincides with the 200-day MA. If this support level holds, the XRP price could target the next resistance key at $2.28.

Meanwhile, crypto analysts are optimistic as the XRP price forms a rounded bottom pattern within the descending parallel channel. According to Ivan Barsuk, the XRP price could be on the verge of breaking out to $3.

This comes as the XRP price recently reclaimed its support at the $1.6 mark and broke out of the governing pattern. According to the analyst, the XRP price currently faces strong resistance around the $2-$2.20 mark. Once these barriers are broken, a potential rally to $3 is plausible. 

🚨 XRP is painting a textbook rounded bottom – $3+ in sight? 👀

While CT is chasing memecoins, $XRP is quietly setting up for a potentially historic breakout.

Here’s what the chart says – and it’s NOT noise:

🔸 Rounded bottom pattern forming on the daily
🔸 Price recently… pic.twitter.com/HLcUdnILSS

— Ivan Barsuk (@IvanBarsuk) April 10, 2025

XRP Price Outlook

Various analysts and traders are optimistic about the XRP bullish reversal outlook, with the bulls gaining strength. This is evident as they have flipped the $1.86 into immediate support, targeting the $2.28. If the bulls keep showing resilience, they could target $2.13, $2.28, and $2.68 in the coming days.

On the downside, if the $2.28 resistance level proves too strong, the XRP could fall. This will cause the XRP price to plunge toward the $1.90 support level. A deeper correction will cause fa urther downside toward $1.87, $1.60, and $1.55, respectively.

Meanwhile, the technical indicators, including the Relative Strength Index (RSI), have hurtled from the undervalued region toward the mean level. Currently, the RSI reads at 43.36, showing a potential upside if the bulls show strength. Moreover, there is still room for the upside before the XRP is considered overbought. 

The MACD indicator shows a looming buy signal as the blue MACD hurtles above the signal orange line. Until then, traders should be cautious and monitor the support and strong volumes, as they will determine the next direction in the XRP market.