XRP Price Analysis: Can Bulls Reclaim $2.99 Amid Market Uncertainty?
Ripple (XRP) witnessed 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 disclosed that the U.S. Strategic Crypto Reserve would consist of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), with the intention of positioning the U.S. as a leader in cryptocurrency adoption.
Initially, this news triggered a bullish momentum, propelling 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, causing XRP to drop back to $2.35.
Is the SEC Dropping Its Case Against Ripple (XRP)?
Despite the pullback in XRP, there is speculation that the SEC lawsuit against Ripple may be coming to a conclusion. Anthony Scaramucci, the founder of SkyBridge Capital, recently suggested that the SEC might have dropped its lawsuit against Ripple. He made this statement during an interview on The Wolf of All Streets podcast, drawing comparisons to other instances where the SEC withdrew its cases against ConsenSys, Gemini, and Coinbase.
However, there is no official confirmation from either the SEC or Ripple, making this purely speculative. The lawsuit, originally filed in December 2020, accused Ripple of selling XRP as an unregistered security. While Ripple achieved a partial legal victory in 2023, a ruling determined that direct XRP sales to institutions violated securities laws, resulting in a $125 million fine.
If the SEC withdraws its case, XRP could experience a substantial rally, but uncertainty persists until an official announcement is made.
Key Takeaways:
Scaramucci suggested the SEC dropped its lawsuit, but no evidence has emerged.
Ripple won a partial legal victory in 2023 but was fined $125 million.
XRP could surge if the case is resolved, but uncertainty could delay bullish momentum.
XRP Price Prediction: Triangle Breakdown Signals Bearish Bias
XRP recently broke below a symmetrical triangle pattern on the 4-hour chart, reinforcing a bearish outlook.
Key Resistance: $2.45 (50-period EMA)
Immediate Support: $2.21, with the possibility of further decline 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 drop to $1.88 if bearish momentum persists.
A break above $2.45 would be the first indication of a bullish recovery, with a move towards $2.64 required to confirm upside potential. Traders should monitor volume trends before entering new positions.
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