Despite the market downturn during the week, Ripple 
$2’s XRP remarkably maintained its position above the $3 support level. Even though Friday’s weak U.S. Producer Price Index (PPI) data triggered a selling spree in the market, XRP managed to bounce back over $3.10. Constructive discussions between U.S. President Donald Trump and Russian President Vladimir Putin, along with new developments in the SEC lawsuit, partially alleviated tensions in the crypto market.
Joint Motion for Dismissal in SEC-Ripple Case
Renowned attorney James Filan revealed on August 16 that in the ongoing SEC-Ripple lawsuit, both parties submitted a joint status report to the appeals court requesting a formal dismissal of the case. This mutual desire to conclude the process heightened interest in XRP in the short term and supported the altcoin’s surge on Saturday. The swift recovery of the price after testing $3 on Friday indicates that buyers are resolutely defending this price zone. Indeed, the upward trend in XRP remained evident towards the end of the week.
In spite of macro-driven selling pressure, the ability of the altcoin’s price to hold above $3 instills confidence in the short-term upward outlook. Should the decision to dismiss the case become clear, there is an expectation of increased investor interest and a potential influx of new capital.
Golden Crossover Signal Remains Intact for XRP
In the daily chart, XRP’s price settled around $3.10 after Friday’s $3.00 test. The previously formed golden crossover pattern remains valid. The 5, 8, and 13-day moving averages are converging above the intraday candle. The bullish crossover at $3.07 between the 5 and 13-day averages helps maintain the upward trend despite the volatile course.
The Relative Strength Index (RSI) stands at 51.28, near the neutral threshold, and with the reemergence of buy volume, has enough room for upward movement. The upper wick of the daily candle leaning against short-term averages often signals an imminent significant move.
Key resistance levels where sellers capped the rise last week are identified at $3.20 and $3.35 for XRP. If these levels are surpassed, the altcoin might rally and propel its price towards $3.65, testing the peak seen in July 2025. Conversely, a dip below $3 could open the door for a deeper retreat towards $2.50.
