- Ripple CEO Brad Garlinghouse announced that the SEC is abandoning its appeal, marking a major legal victory for XRP and the broader crypto industry.
- XRP price surged 15% to hit $2.58 as trading volume soared 85.3% to $5.4 billion, reflecting heightened investor enthusiasm.
- Technical indicators suggest XRP could double in price, with analysts eyeing a breakout beyond $3.40 and speculation rising about an XRP spot ETF.
Ripple CEO Brad Garlinghouse has announced today, March 19, 2025, that the U.S. Securities and Exchange Commission (SEC) is dropping its long-standing appeal against Ripple.
The news, shared via a triumphant post on X, has sent shockwaves through the market, with XRP price spiking within minutes of the announcement.
The XRP price has jumped 14.7% in the last 24 hours to trade at $2.55 as of 11:43 a.m. EST, on an 85.3% increase in trading volume to $5.4 billion. This price is up from $2.29 earlier in the day.
XRP Price Surges as SEC Lawsuit Comes to an End
Garlinghouse’s statement, “This is it. The moment we’ve been waiting for. The SEC will drop its appeal, a resounding victory for Ripple, for crypto, every way you look at it,” marks the end of a contentious battle that began in December 2020.
The market’s reaction was swift and decisive. Data from Coingecko shows XRP price spiking to $2.58 within U.S. morning hours, a 15% jump that outpaced many other major cryptocurrencies.
The SEC had accused Ripple of raising $1.3 billion through unregistered XRP sales, alleging the token was a security. In August 2024, Judge Analisa Torres made a pivotal ruling, finding that while institutional sales violated securities laws, programmatic sales to retail investors did not, handing Ripple a partial victory. The SEC’s subsequent appeal kept uncertainty looming, until now.
Analysts predict further gains as the dust settles on this multi-year legal saga. The XRP daily trading volume has soared, with exchanges reporting heightened activity as investors pile in, buoyed by the prospect of regulatory clarity.
XRP Price Analysis: Technicals Hint at 100% Gains Ahead
The price action of XRP is currently trading within a descending channel, as highlighted in the chart. XRP price increased by 13.3% in the last two hours and is testing the upper boundary of the channel.
The relative strength index (RSI) is at 54.18, suggesting neutral momentum with a slight bullish inclination. The Moving Average Convergence Divergence (MACD) recently sported a weak bullish crossover, signaling potential upside momentum.
The current 1-day candle is bullish and testing resistance. The 50-day Simple Moving Average (SMA) currently acts as dynamic resistance for XRP at $2.48. However, if a strong close above this moving average and channel happens, it could confirm an uptrend continuation, sending the XRP price to the next major resistance around $3.40.
On the flip side, if heavy profit-taking takes place at these levels, the price of XRP may drop back to support at $2.10. A deeper correction may send the asset to $1.70 near the 200-day Simple Moving Average (SMA) level.
What’s Next For Ripple and XRP?
Beyond the immediate price action, the implications are profound. Garlinghouse hinted at a broader vision, stating, “It’s time to make the United States the crypto capital of the world.” With the legal cloud lifted, Ripple may now accelerate its global payment solutions, potentially driving XRP adoption.
Speculation is also rife about an XRP spot ETF, which could further propel prices toward $5 or higher, as some enthusiasts are predicting.
However, the crypto market remains volatile, and profit-taking could temper gains. For now, XRP holders celebrate a hard-fought win, and the charts are lighting up green.
