Ripple CTO’s Final Letter to SEC Spark XRP Price Rally to $2.50 – Crypto News

Ripple (XRP) price settled above the $2.37 mark on March 22, down 10% from the weekly timeframe tops around $2.6. Following Ripple CTO’ latest letter to the US SEC, technical indicators suggest XRP could advance above the $3.20 level on the next rebound phase. 

Ripple CTO sends Cross-appeal Letter to Finalise Settlement with US SEC 

Ripple (XRP) price has stagnated around the $2.40 level as markets digested recent regulatory development. 

Ripple’s long-running legal battle with the U.S Securities and Exchange Commission (SEC) came to an abrupt end on Thursday, March 19, with the regulatory agency withdrawing its appeal.

Ripple has filed a cross-appeal to ensure all legal arguments are thoroughly addressed. This latest move has intensified scrutiny on the case, with investors closely monitoring XRP’s price reaction.

The SEC’s initial lawsuit, filed in December 2020, accused Ripple of selling XRP as an unregistered security. While Ripple secured partial victories in court, regulatory uncertainties continue to cloud the cryptocurrency’s future.

The cross-appeal signals Ripple’s intent to challenge specifics of the SEC’s claims, classifying XRP as a non-security asset to set concrete precedents for further crypto regulations.

“Ripple filed a cross-appeal to ensure nothing’s left on the table, including the argument that there can’t be an ‘investment contract’ without there being essential rights and obligations found in a contract.” 

– Ripple’s Chief Legal Officer, Stuart Alderoty, March 2025

 At the time of publication on March 22, Litecoin (LTC), Bitcoin Cash (BCH), Solana (SOL), Cardano (ADA), Polkadot (DOT), all currently have an ETF application under-review with the SECs.

If Ripple prevails, many market watchers expect this to clear barriers to approval of altcoin ETFs, while an adverse ruling may lead to negative outcome or delayed verdicts.

XRP Price Prediction Today: Potential Decline to $2.30 or a Rebound to $2.50?

XRP price forecast suggests a cautious outlook as technical indicators highlight both bullish and bearish possibilities.

Currently, XRP trades around $2.3731 after a sharp 8.39% retracement over the last three days, signalling a potential shift in momentum.

First, the Fibonacci retracement tool shows immediate support near the 61.8% level at $2.3735, which aligns closely with the current price.

If bulls manage to hold this support, Ripple price could rebound toward the 23.6% retracement level at $2.5033, where selling pressure may re-emerge.

Beyond that, the MACD indicator remains in positive territory, albeit with signs of a bearish crossover forming, suggesting weakening upward momentum.

Conversely, if selling pressure persists and XRP closes below the key Fibonacci level of $2.3735, the next downside target lies at $2.3629. A further breakdown could expose the price to deeper losses toward $2.30 and possibly $2.26, in line with historical support levels.

The declining trading volume further emphasises the bearish concerns, indicating waning buying interest.

For a bullish recovery, XRP must decisively reclaim $2.40 and sustain momentum above $2.50. However, failure to hold key support levels could accelerate a bearish decline toward $2.30.

Traders should watch for volume spikes and MACD confirmation to gauge the next directional move

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ibrahim

Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.