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However, Ripple is absent from the Crypto Task Force’s meetings list, which is updated to March 6. If discussions began only recently, the absence of documented meetings raises doubts about active settlement negotiations between Ripple and the SEC. Despite the market optimism, the SEC’s silence on the Ripple case leaves XRP well below its all-time high of $3.5505.
XRP Price Trends: SEC Appeal and XRP-Spot ETFs in Focus
Despite Gary Gensler’s departure and the SEC’s overhaul, the agency has remained silent on the Ripple case. The near-term trajectory hinges on two key factors: the SEC’s appeal strategy and potential XRP-spot ETF approvals.
- Bullish Scenario: If the SEC withdraws its appeal, XRP could surge past its all-time high of $3.5505. Approval of XRP-spot ETFs could further fuel institutional demand, pushing prices toward $5.
- Bearish Scenario: If the SEC proceeds with its appeal and rejects XRP-spot ETFs, XRP could plummet below $1.50.
XRP Price Action
Daily Chart
Despite a five-day winning streak, XRP remains below the 50-day Exponential Moving Average (EMA), indicating lingering resistance, but it holds above the 200-day EMA, signaling long-term support.
If XRP breaks above the 50-day EMA, bulls could target the March 2 high of $3.0153 as the next resistance level. A return to $3.0153 may signal a climb toward the January 16 high of $3.3999. Favorable Ripple case-related news may bring the all-time high of $3.5505 into sight.
Conversely, an XRP drop below the $1.9299 support level and the 200-day EMA could bring the February 3 low of $1.7024 into play.
With a 14-day Relative Strength Index (RSI) reading of 49.68, XRP could drop below the 200-day EMA before entering oversold territory (RSI below 30).
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