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 disclosed that the U.S. Strategic Crypto Reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), with the goal of positioning the U.S. as a leader in cryptocurrency adoption.
Initially, this news generated 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, causing XRP to drop back to $2.35.
Is the SEC Dropping Its Case Against Ripple (XRP)?
Despite the pullback of XRP, there are speculations that the lawsuit by the U.S. Securities and Exchange Commission (SEC) against Ripple might be coming to an end. Anthony Scaramucci, the founder of SkyBridge Capital, recently suggested that the SEC may have dropped its lawsuit against Ripple.
He made this statement during an interview on The Wolf of All Streets podcast, drawing a comparison to other cases in which the SEC withdrew its claims against ConsenSys, Gemini, and Coinbase.
However, there has been no official confirmation from the SEC or Ripple, making this purely speculative. The lawsuit, initially filed in December 2020, accused Ripple of selling XRP as an unregistered security. While Ripple obtained 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 withdraws its case, XRP could experience a major rally, but uncertainty will persist until an official announcement is made.
Key Takeaways:
Scaramucci suggested the SEC dropped its lawsuit, but there is no evidence to support this claim.
Ripple achieved a partial legal victory in 2023 but was fined $125 million.
XRP could surge if the case concludes, 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 the potential to decline further to $2.03
The rejection from the descending trendline, combined 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 above $2.45 would be the first indication of a bullish recovery, and a move towards $2.64 would be needed to confirm upside potential. Traders should monitor volume trends before taking new positions.
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