Ripple CEO says the SEC will drop its appeal, XRP price reacts higher

Ripple CEO says the SEC will drop its appeal, XRP price reacts higher

  • 20.03.2025 00:29
  • coinjournal.net
  • Keywords: High Risk

Ripple CEO Brad Garlinghouse claims the SEC will drop its appeal against Ripple, sending XRP prices up 12%. Meanwhile, Ethereum (ETH) surged above $2,000, with analyst Rekt Capital predicting a potential 95% rally to $3,900 if bulls reclaim key levels.

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Business Insights and Market Implications Analysis

Ripple CEO's Announcement on SEC Appeal Drop

  • Key Facts:

    • Ripple CEO Brad Garlinghouse announced the U.S. Securities and Exchange Commission (SEC) will drop its appeal in a four-year legal battle against Ripple.
    • XRP price surged by 12%, trading at $2.52 post-announcement.
  • Market Implications:

    • The decision marks a significant victory for Ripple, potentially stabilizing XRP's value and fostering institutional confidence.
    • Reflects broader regulatory shifts, with the SEC ending multiple crypto cases, signaling a possible more favorable regulatory environment.

Ethereum Price Surge and Analyst Predictions

  • Key Facts:

    • Ethereum (ETH) price rose 7%, reclaiming the $2,000 level, reaching its highest since March 10, 2025.
    • Rekt Capital predicts a potential 95% rally to $3,900 if bulls reclaim $2,200.
  • Market Implications:

    • The price surge indicates renewed interest in altcoins and suggests bullish sentiment despite Ethereum's long-term struggles (down ~27% over the past month).
    • Futures data shows increased open interest (+10.8% to $19.9 billion), supporting a bullish setup.

Competitive Dynamics and Strategic Considerations

  • Ripple:

    • Legal victory may encourage more institutional adoption and set a regulatory precedent for other crypto cases.
  • Ethereum:

    • Price movements are tied to broader market trends, with analyst predictions adding credibility but remaining speculative.
  • Broader Market:

    • Both cryptocurrencies' performances highlight the impact of regulatory clarity and investor sentiment on market dynamics.