Ripple's XRP rallied over 10%, reaching $2.59 after CEO Brad Garlinghouse confirmed the SEC is dropping its long-standing appeal against Ripple. Analysts now see XRP potentially climbing to $4 if bullish momentum continues.
Quick Take
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XRP price jumped more than 10% following Ripple CEO's announcement about the SEC dropping its appeal.
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The SEC's lawsuit began in 2020 and cost XRP holders an estimated $15 billion in losses.
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Over $11 million in short XRP positions were liquidated in one hour after the news.
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Analysts predict XRP could rally further to $4 or even higher amid bullish sentiment.
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Regulatory clarity from the SEC's decision could expedite approval of XRP ETFs.
SEC Ends Multi-Year Legal Battle Against Ripple
Ripple CEO Brad Garlinghouse announced via social media on March 19 that the U.S. Securities and Exchange Commission (SEC) intends to drop its appeal against Ripple Labs, marking a pivotal moment in a nearly five-year-long legal saga. This case, initially filed in 2020 under the Trump administration, alleged Ripple raised $1.3 billion through unregistered securities sales involving XRP.
Judge Analisa Torres ruled partially in Ripple's favor in August 2024, imposing a significantly reduced fine of $125 million compared to the SEC's initial $2 billion claim. Crucially, the ruling established that XRP's retail sales were not securities violations, though institutional sales remained restricted.
Ripple's CEO Declares "Victory for Crypto"
Source: X
Garlinghouse hailed the decision as a "resounding victory" for Ripple and the broader cryptocurrency industry. He described the case as the "first major shot fired in the war on crypto," emphasizing that Ripple's continued commitment to operating within the U.S. legal framework had finally paid off.
The SEC's case had previously inflicted an estimated $15 billion loss on XRP investors, negatively impacting market confidence for years. Garlinghouse stated the resolution signifies a new era of regulatory clarity and legitimacy for digital assets.
XRP Price Surges Amid $11M Liquidations in 12 Hours
Source: CoinGlass
Following Garlinghouse’s announcement, XRP prices soared by over 10% to hit an intraday peak of $2.59. The rapid price movement triggered massive short position liquidations amounting to over $11 million within a single hour, reinforcing the bullish momentum.
XRP Price Prediction: $4 Next Key Target?
XRP/USDT price chart | Source: KuCoin
Analysts highlight XRP's current bullish technical indicators, including a confirmed bull flag pattern suggesting a potential target of $2.80 shortly. Technical analyst CoinsKid anticipates XRP could soon reach new highs around $4, conditional on continued bullish sentiment and maintaining key support levels.
Will the SEC Approve XRP ETFs Soon?
Source: Polymarket
The SEC’s withdrawal paves the way for potential approval of XRP exchange-traded funds (ETFs). Major asset managers like Grayscale, Bitwise, and Franklin Templeton have already filed for XRP-focused ETFs, with Bloomberg analysts previously estimating approval odds at 65-75% by the end of 2025.
XRP was highlighted by former President Trump as a key component of a proposed U.S. strategic crypto reserve, further bolstering its prospects for mainstream financial adoption.
What’s Next for Ripple and XRP?
With regulatory hurdles receding, Ripple is now expected to focus aggressively on growth and strategic investments, having already deployed over $2 billion across various crypto ventures. The conclusion of this significant legal challenge represents a fresh chapter for both Ripple and XRP, potentially heralding sustained bullish performance and broader institutional adoption in the coming months.
