xrp-usd
Olumide Adesina•Friday, April 4, 2025•1 min read
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Ripple bulls held the $2 critical support line amid high sell-offs in financial markets as the community braces for the SEC’s response to the XRP settlement.
A SEC meeting (set to occur later today, hours after this publication, with inexplicably no details released to the public) could help us solve the mystery.
Currently, XRP is trading at $2.05, reflecting a 3.5% decrease over the last 24 hours. This places its year-to-date losses at 1.73%, dampening market optimism.
The details of the SEC meeting remain undisclosed, raising new questions, such as: Why do XRP holders harbor such optimism when speculating about the outcome of a meeting that could change the fate of Ripple and the SEC’s legal saga? likely due to the hope that the meeting could involve an internal vote to settle and dismiss Ripple’s appeal case.
Ripple CEO Brad Garlinghouse stated on record that “the goal to work towards had been settled on March 19, ” indicating that the legal logistics are in play for the Commission to abandon the appeal and lift the ban on selling XRP to institutional investors.
In this scenario, XRP holders would benefit from a strong bullish catalyst. However, amid the volatility that remains prevalent in the markets, uncertainty in the market remains high/
Should the SEC take significant time in voting to withdraw the appeal, XRP could dip below $2. The remittance token oscillated at $2.1 after breaching the $2.2 resistance on Monday.
XRP has a market valuation of $122.3 billion. Over the past day, the cryptocurrency has remained 40 percent below its all-time high of $3.40, ranging in a narrow range between $2.05 and $2.50.
The growing bearish momentum suggests that XRP may be about to experience a more severe drop despite the lack of indications of an impending recovery.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
