- An improving resolution of the SEC case has increased expectations for launching a spot XRP ETF in the U.S. which could boost institutional adoption.
- XRP presents two price-related risks so if support falls below $2.00 it might quickly decrease to $1.50 but maintaining $2.00 may produce temporary market recovery.
- The next directional decision for XRP traders becomes vital because a rise beyond $2.50 might propel prices toward $3.00 despite present bearish conditions.
The United States Securities and Exchange Commission(SEC) dropped its appeal marking a significant moment for the crypto industry. The SEC’s refusal to appeal the 2023 court ruling from Judge Analisa Torres has ended years of court battles thus resolving the security status of Ripple’s XRP cryptocurrency.
XRP ETF Approval on the Horizon
The settlement of Ripple’s legal case has generated predictions about the imminent approval of an XRP spot ETF. Institutional adoption of XRP might soon become a reality since large-scale financial entities including BlackRock and Fidelity are set to enter the market.
Despite the excitement surrounding the SEC’s withdrawal and Ripple’s decision to drop its cross-appeal, XRP has not regained its previous peak value of $3.3999. However, the potential launch of a U.S.-based XRP spot ETF launch has the real potential to transform XRP’s market demand and supply patterns thus leading to future price appreciation.
XRP Faces Bearish Pressure Amid Key Support Test
XRP prices have shown notable decreases according to the current market trends. The current XRP trading price stands at $2.34 and shows a 4.6% decrease from the previous day. The current market instability leads to XRP prices that range between $2.34 and $2.46 during the 24-hour period.
The XRP price chart displays an obvious head-and-shoulders pattern which frequently indicates an upcoming decrease in value. This pattern consists of a peak flanked by two lower highs, with a critical neckline support level around $2.10. Historically, breaking below this level could trigger a sharp decline toward the $1.30-$1.50 range.
According to analyst Ali,The $2.00 mark stands out as the most significant support level for XRP. If the price fails to hold this zone, Market sell-offs could increase while XRP could initiate a temporary price increase if it manages to sustain its current support level.
XRP Price Outlook: Key Levels to Watch
Market analysis indicates that XRP stands at a critical position in its price development.In a bearish scenario, losing $2.00 could drive the price to $1.50 or lower. On the bullish side, reclaiming $2.50 could invalidate the pattern, pushing XRP toward $3.00.
According to Coincodex,Over the next five days, XRP will reach the highest price of $ 2.40 on Mar 31, 2025, which would represent 2.26% growth compared to the current price. This follows a -5.54% price change over the last 7 days.
