Recently, the cryptocurrency market has seen a wave of rebound, with XRP standing out particularly. Starting from 8 PM yesterday, the price of XRP showed a strong upward trend, climbing from a low of 2.7266 USD to a high of 3.0297 USD, with a significant increase.

Behind this wave of price increase, there are multiple favorable factors supporting it. First, the U.S. Securities and Exchange Commission (SEC) recently submitted a motion seeking court approval for a settlement agreement with Ripple. The settlement amount is expected to be $50 million, which is far lower than the $2 billion previously demanded by the SEC. This development is interpreted by the market as the imminent conclusion of a long-term legal dispute, greatly boosting investor confidence.

At the same time, traditional financial institutions are also accelerating their layout of XRP-related businesses. The Chicago Mercantile Exchange (CME) Group plans to launch XRP futures products; Coinbase has already launched XRP-related trading services; and there are rumors that BlackRock is preparing an XRP trust fund. These trends indicate that Wall Street's interest in XRP is growing.

It is worth noting that recently, large addresses of XRP have increased their holdings by approximately 1.4 billion tokens, a move seen as a signal that institutional investors are optimistic about the long-term development of XRP.

For investors, the current XRP market shows a high level of volatility. Investors who already hold XRP can closely monitor the key price level of $3.2; if it breaks through, they may consider holding on and watching for $3.5. However, if it fails to break through, they may need to consider taking profits. For investors who have not yet entered the market, they can cautiously build their position around $2.8, but should pay attention to setting stop-loss levels.

Overall, the current trend of XRP reflects the overall recovery trend of the encryption currency market, but investors still need to carefully assess the risks and manage their funds.