XRP has experienced a notable rise in spot market volumes, suggesting a potential for a new price rally. Following a 16% price increase after positive news regarding Ripple's legal battle with the SEC, XRP's price has fluctuated but remains crucially positioned below $2.50. Analysts observe that, similar to the previous all-time high in January, the current market dynamics show an emerging buying pressure as the aggregated spot tape cumulative trade delta has turned positive for the first time since late January. An anonymous trader predicts that XRP may retest $2 before aiming for a new all-time high above $3.40, while others emphasize the importance of stabilizing above $2.50. A close below $2.23 could shift the market sentiment back to bearish, while establishing a bullish structure above $2.65 could spark further upward momentum. It remains a tightly contested situation between bulls and bears as XRP currently drifts in sideways consolidation, making the immediate market direction difficult to forecast.

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