Ripple Labs has achieved a major legal breakthrough, resolving all remaining appeals in its case with the U.S. Securities and Exchange Commission (SEC) and reclaiming $75 million previously held in escrow.
The resolution has fueled a wave of optimism in the cryptocurrency market, significantly benefiting XRP.
XRP surged by 10% shortly after the announcement, reaching $2.51 with a 7.86% intraday increase, reflecting renewed investor confidence.
Despite a 15.16% dip in trading volume to $2.77 billion, XRP recorded a 7-day gain of 9.08%. The token now boasts a market cap of $142.97 billion, accounting for 4.96% of the total crypto market.
Ripple’s CEO, Brad Garlinghouse, celebrated the resolution, describing it as a “historic chapter closed.”
He stated, “The crypto war ends in failure for those who tried to use our government against innovation.” Chief Legal Officer Stuart Alderoty highlighted Ripple’s strengthened market position and growing confidence post-settlement.
This development concludes Ripple’s prolonged legal battle with the SEC, which had cast uncertainty over XRP since 2020. Analysts view the settlement as a landmark precedent that could shape how cryptocurrency firms navigate regulatory challenges in the future.
Bitcoin’s Recovery Sparks Optimism but Prompts Caution
Bitcoin has rebounded strongly, reaching $88,500, which has reignited optimism among retail traders. However, blockchain analysis firm Santiment has urged caution, citing social media predictions that often counter actual market trends.
Santiment noted that bullish forecasts for Bitcoin range from $100,000 to $159,000, while bearish predictions span $10,000 to $69,000. The firm warned that excessive optimism or pessimism typically signals an opposite market reaction.
Earlier in February and March, Bitcoin faced significant pressure, dropping twice to $78,000 due to President Trump’s economic policies, macroeconomic factors, and concerns about inflation. Meanwhile, gold prices soared to new highs, peaking at $3,057 in March after reaching $2,956 in February, as investors sought safer assets.
What you should know
Despite earlier uncertainty, Bitcoin’s recovery in the latter half of March has shifted market sentiment toward mild greed.
- Santiment emphasized that traders should be wary during periods of extreme sentiment, cautioning that euphoric social media activity—marked by phrases like “to the moon” or “lambo time”—often precedes corrections.
- The resolution of Ripple’s legal battle and Bitcoin’s price recovery have boosted overall market sentiment.
- Analysts believe these developments highlight the importance of regulatory clarity and strategic risk management for sustainable growth in the cryptocurrency sector.
If XRP breaks above $2.50, it could quickly target $2.59. On the flip side, a drop below $2.41 would invalidate the bullish setup and open the door toward lower supports.
