Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
XRP Pumps as SEC Drops Ripple Lawsuit – Key MA Resistance Holds the Key to Uptrend

XRP Pumps as SEC Drops Ripple Lawsuit – Key MA Resistance Holds the Key to Uptrend

CoinsProbeCoinsProbe2025/03/20 03:22
By:Nilesh Hembade

Date: Wed, March 19, 2025 | 01:38 PM GMT

The crypto market within the last hour has seen XRP making a strong pump, surging by over 7% following a major legal development regarding the SEC lawsuit against Ripple. This surge has sparked bullish sentiment, but key resistance levels still stand in the way of a full-fledged breakout.

XRP Pumps as SEC Drops Ripple Lawsuit – Key MA Resistance Holds the Key to Uptrend image 0 Source: Coinmarketcap

US SEC Drops Ripple Lawsuit

The US Securities and Exchange Commission (SEC) has officially agreed to drop its lawsuit against Ripple, marking a major victory for the company and the broader crypto industry. Ripple CEO Brad Garlinghouse announced the news in an X post, confirming that the five-year-long legal battle, which began in 2020, has finally come to an end.

XRP Pumps as SEC Drops Ripple Lawsuit – Key MA Resistance Holds the Key to Uptrend image 1 Source: @bgarlinghouse (X)

This legal victory has fueled strong bullish sentiment, leading to an immediate surge in XRP’s price. However, technical resistance levels will determine whether this uptrend can be sustained.

Key MA Resistance Holds the Key to Uptrend

Following the announcement, XRP has rebounded to $2.49 and is now testing the critical resistance of the 50-day and 100-day simple moving averages (SMAs) within an ascending channel while also forming a potential head and shoulders pattern.

XRP Daily Chart/Coinsprobe (Source: Tradingview)

A successful breakout above this level could initiate a promising uptrend, pushing XRP toward the $3.00 resistance zone. If momentum continues, XRP could test the upper boundary of the ascending channel, signaling a broader bullish continuation.

However, failure to break above the resistance could lead to a pullback toward the $2.00 support range before any potential bullish continuation.

What’s Next for XRP?

With the legal uncertainty now behind Ripple, the focus shifts to technical breakout levels and market sentiment. If buyers can push XRP above MA resistance the token could accelerate toward new highs, potentially targeting $3.00 and beyond. However, if resistance holds, XRP might see short-term consolidation or a minor pullback before its next major move.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

The next-generation Launchpad may help address the issue of community activation in the cryptocurrency sector, a problem that airdrops have consistently failed to solve.

Block unicorn2025/11/28 10:23
From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?