SEC Ruling Shakes Ripple Lawsuit – What’s Next for XRP and the Crypto Market?
Rumors circulating on social media suggested that the U.S. Securities and Exchange Commission (SEC) might settle or dismiss its ongoing appeal against Ripple during its scheduled meeting today, potentially impacting the price of XRP.
According to the agency’s official agenda, a closed meeting was scheduled to take place today at its headquarters.
Crypto influencer Steph is Crypto claimed on social media that the Ripple case would be one of the items discussed during the meeting.
Meanwhile, crypto lawyer Fred Rispoli commented on March 25 that the entire legal battle could be fully resolved within 60 days.
Stuart Alderoty, Ripple’s Chief Legal Officer, also stated at the time that the SEC had agreed to drop its appeal, although the agency has not yet provided an official confirmation.
While the market may have partially priced in this development, an official statement from the SEC could serve as a catalyst for XRP, particularly at a time when bullish momentum is limited.
XRP Loses Momentum After China Responds to U.S. Tariffs
XRP opened the session with modest gains but lost momentum after reports emerged that China had imposed retaliatory tariffs on U.S. imports.
During the Asian session, XRP briefly climbed nearly 3% before slipping by 0.1%.
Trading volumes fell 28.4%, suggesting that the initial volatility following former President Trump’s tariff comments may be easing.
Despite the decline following Beijing’s tariff response, XRP’s hourly chart still shows bullish potential, with the price bouncing off the 61.8% Fibonacci retracement level.
The price had been trending upward prior to the tariff-related news, reaching a higher high during the Asian session.
However, the broader trend remains bearish, with the Relative Strength Index (RSI) signaling a potential decline after a bearish crossover.
The MACD histogram also appears to be moving into negative territory. If XRP breaks below the 61.8% Fibonacci level, a short-term bearish outlook would be confirmed, potentially leading to a drop toward $1.95.
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