The Ripple v. SEC Case: A Legal Victory Yet to Spark a Bull Market
The legal battle between Ripple and the Securities and Exchange Commission (SEC) was once seen as a pivotal moment that could significantly boost XRP’s value. However, the outcome has not yet fulfilled the high expectations of XRP enthusiasts.
Ripple’s Triumph: An Announcement to Remember
On March 19, Ripple Labs CEO Brad Garlinghouse took to X to proclaim the conclusion of the case, expressing triumph for Ripple and the broader cryptocurrency landscape:
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“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.”
Despite Garlinghouse’s optimistic announcement, the SEC refrained from making any immediate comment. In the wake of the announcement, XRP’s market capitalization saw a significant drop of $11 billion over 48 hours.
The Broader Market Strain: A Ripple Effect
Further compounding XRP’s challenges were macroeconomic factors, such as the ripple effects from President Trump’s tariff policies, which triggered a sell-off across the cryptocurrency market, worsening XRP’s losses.
Legal Proceedings Draw to a Close
On April 10, both the SEC and Ripple filed a motion to put their appeal on hold, effectively nullifying it. Yet, as the case draws to a conclusion, caution remains among the XRP community about the potential for a bullish rally.
The Ripple v. SEC Case Victory: Will It Trigger a Bull Market?
Crypto influencer All Things XRP echoed caution in an April 13 X post, suggesting that the legal victory’s impact may already be reflected in XRP’s current price:
“If you think XRP is going to the moon the moment the SEC case OFFICIALLY ends… You’re already late. That’s priced in. The real move? Comes after. Watch what Ripple does next — partnerships, utility, big plays. That’s where the action will be. Eyes open. Don’t get caught sleeping.”
At the time of writing on April 14, XRP traded at $2.14, following a minor uptick of 11.98% over the past week. However, it’s still shy of the $2.55 peak observed after Garlinghouse’s announcement.
Potential Bullish Catalysts for XRP
Despite the lack of a significant upward trend, several factors may drive future gains for XRP. The cryptocurrency’s exchange supply has declined to a one-month low, potentially reducing selling pressure.
Chart analyst Ali Martinez has identified an ascending triangle pattern, suggesting a potential bullish breakout if XRP surpasses $2.22. Additionally, pseudonymous analyst RizeSenpai has set an ambitious $30 target using Fibonacci retracement.
Nevertheless, investors should remain mindful of broader market dynamics, which are likely to continue influencing XRP’s price trajectory in the near term.
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