XRP Price Analysis: Can Bulls Reclaim $2.99 Amid Market Uncertainty?
Ripple (XRP) experienced a significant decline of 6%, dropping to $2.35 following the announcement by former U.S. President Donald Trump about the establishment of a U.S. Strategic Bitcoin Reserve.
On March 2, 2025, Trump revealed that the U.S. Strategic Crypto Reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), with the aim of positioning the U.S. as a leader in crypto adoption.
Initially, this announcement triggered bullish momentum, driving XRP to $2.96. However, once it was clarified that the reserve would only hold seized crypto assets and not newly purchased ones, the enthusiasm waned, and XRP fell back to $2.35.
Is the SEC Dropping Its Case Against Ripple (XRP)?
Despite the pullback in XRP’s price, there is speculation that the SEC lawsuit against Ripple may be coming to an end. Anthony Scaramucci, the founder of SkyBridge Capital, recently suggested that the SEC may have dropped its lawsuit against Ripple.
During an interview on The Wolf of All Streets podcast, Scaramucci made this statement while comparing the case to other instances where the SEC withdrew its lawsuits against ConsenSys, Gemini, and Coinbase.
However, there is no official confirmation from the SEC or Ripple, so this remains purely speculative. The lawsuit was initially filed in December 2020 and accused Ripple of selling XRP as an unregistered security. While Ripple achieved a partial legal victory in 2023, a ruling determined that direct sales of XRP to institutions violated securities laws, resulting in a $125 million fine.
If the SEC does withdraw its case, XRP could experience a significant rally. However, uncertainty remains until an official announcement is made.
Key Takeaways:
Scaramucci suggested that the SEC dropped its lawsuit, but there is no evidence to support this claim.
Ripple won a partial legal victory in 2023 but was fined $125 million.
If the case against Ripple ends, XRP could experience a surge in price, but uncertainty may delay bullish momentum.
XRP Price Prediction: Triangle Breakdown Signals Bearish Bias
XRP recently broke below a symmetrical triangle pattern on the 4-hour chart, indicating a bearish outlook.
Key Resistance: $2.45 (50-period EMA)
Immediate Support: $2.21, with potential downside to $2.03
The rejection from the descending trendline, coupled with weak market sentiment, increases the likelihood of further selling. If XRP fails to reclaim $2.45, it could test $2.21 and potentially $1.88 if bearish momentum continues.
A break back above $2.45 would be the first indication of a bullish recovery, with a move toward $2.64 needed to confirm upward potential. Traders should monitor volume trends before entering new positions.
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