- The SEC’s decision to close the Robinhood Crypto case suggests a softer regulatory stance, boosting optimism in the crypto market.
- XRP is consolidating within a falling wedge, with potential breakout targets at $3.44, $4.21, and $4.95 if key resistance levels are surpassed.
- Despite XRP’s 32% monthly decline, its trading volume surged by 174%, indicating strong market interest as regulation stance shifts.
The U.S. Securities and Exchange Commission (SEC) has dropped its investigation into Robinhood Crypto without taking any enforcement action. This decision is another reversal of regulatory actions initiated during the Gensler era.
Robinhood announced the SEC’s decision on February 24, stating that the investigation should not have been initiated. The closure of this case follows a series of similar moves, raising speculation about the SEC’s shifting stance on crypto regulations.
SEC’s Changing Approach
Robinhood responded to the SEC’s decision, emphasizing that its crypto division has always adhered to federal securities laws. The company stated that it appreciates the SEC’s decision to close the investigation without any action and reaffirmed that Robinhood Crypto has consistently complied with regulations.Robinhood CEO Vlad Tenev described the outcome as a victory for justice, adding,
“Now, it’s time to focus on pro-innovation policies that unlock the full potential of digital assets in America.”
This has led to optimism among analysts and the market who see this as a sign of regulatory easing. Analyst Crypto Rover sees the decision as bullish for the market, expressing that the SEC’s move to close the Robinhood Crypto case without enforcement shows a positive outlook for the crypto market.
Ripple Awaits Decision Amid SEC’s Recent Case Drops
The SEC has also dropped cases against Coinbase and OpenSea, further leading to perception of a softened regulatory approach. Good Morning Crypto emphasized this, pointing out that the SEC has now ended multiple investigations, including those involving OpenSea, Coinbase, and Robinhood.
He suggested that this shift in approach may indicate that the SEC is becoming more crypto friendly and called for the agency to conclude the Ripple XRP case as well. Despite these changes, the SEC has not clarified its stance on appealing the ruling on Ripple’s Programmatic Sales of XRP.
SEC dropped the case against Opensea.
— Good Morning Crypto (@AbsGMCrypto) February 24, 2025
SEC dropped the case against Coinbase.
SEC dropped the case against Robinhood.
THE SEC IS PRO-CRYPTO, IT’S TIME TO END THE RIPPLE $XRP CASE! 🙌🇺🇸
Many in the crypto are hopeful that the agency may reconsider its approach, given its recent withdrawals. It is to be seen whether the SEC will proceed with its appeal or opt to close the case, similar to its recent actions.
XRP Price and Technical Indicators
On February 25th, XRP was trading at $2.13, a 14.15% decline in the past 24 hours and a 17.13% drop over the past week. The digital asset has also fallen by 32.02% in the past month, leading to a market cap drop to $123.46 billion.
Tether’s USDT has overtaken XRP as the third largest cryptocurrency, with a market cap of $142.32 billion. Despite XRP’s price decline, trading volume has surged by 174.38% in the last 24 hours, reaching $9.96 billion.
Analyst Rose pointed out that XRP is consolidating within a falling wedge pattern, a pattern that often precedes a bullish breakout. The breakout range prediction is between $2.60 and $2.75, with targets at $4.21 and $4.95 if the breakout occurs.
The 0.382 Fibonacci retracement level is at $2.90, an early resistance. The 0.5 Fib level aligns with $2.75, being the critical support. A breakout above these levels could push XRP to $3.44 initially, with further resistance at $4.21 and $4.95.
However, failure to break resistance may result in continued consolidation or a drop to the $2–$2.10 range. The crypto market is highly responsive to regulatory developments, with XRP’s technical setup hinting at a potential breakout.
