CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino
coinpedia 2025-03-19 14:10:08

XRP Price Explodes as SEC Backs Down – Massive Rally Ahead?

The post XRP Price Explodes as SEC Backs Down – Massive Rally Ahead? appeared first on Coinpedia Fintech News After more than three years of litigation, the United States Securities and Exchange Commission (SEC) will drop the case against Ripple Labs. According to Brad Garlinghouse, the CEO of Ripple Labs, the U.S. SEC will drop its appeal, which was filed to dispute the 2023 ruling by Judge Analisa Torres. “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. The future is bright. Let’s build,” Garlinghouse noted . Earlier this month, the U.S. SEC proposed that XRP is a payment system and not viewed as a security asset under the Howey test. Furthermore, the U.S. SEC Chair Paul Atkinson is aligned with President Donald Trump’s bid to enable the mainstream adoption of crypto assets and blockchain technology. Today, Ripple moves forward—stronger than ever. This landmark case set a precedent for the domestic crypto industry. With the SEC dropping its appeal, Ripple is now in the driver's seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to… https://t.co/NLgmiRrcjx — Stuart Alderoty (@s_alderoty) March 19, 2025 XRP Price Ready for Liftoff Following the announcement, XRP price recorded a double percentage digit spike in the past 24 hours to trade about $2.5 on Wednesday, March 19, during the mid-New York session. The large-cap altcoin, with a fully diluted valuation of about $233 billion and a 24-hour average trading volume of around $5.4 billion, experienced a jump of around $200 million in Open Interest (OI) catalyzed by leverage traders. From a technical analysis standpoint, XRP price is on the cusp of rallying towards its all-time high after successfully retesting the lower bottom of a horizontal consolidation range. However, on-chain data shows whale investors have not yet aped into the XRP market, thus likely to consolidate to attract more buyers. Moreover, the odds of the announcement turning into a classic sell-the-news are high.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.