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.
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.
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.
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.
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