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He also discussed the recent acquisition of prime broker Hidden Road, saying he would not have made the acquisition a year ago, adding:
“The SEC and the United States, even other parts of the Biden administration, it was a coordinated attack across many different agencies.”
The Ripple CEO referred to the IRS’s DeFi broker rule and Staff Accounting Bulletin (SAB) 121, which required banks to record crypto assets on their balance sheets even when holding them in customer custody. Both rules have since been voted out, underscoring the Trump administration’s pro-crypto stance.
He further addressed a potential US XRP-spot ETF, calling it “long overdue” and a step toward safer, more institutional market participation.
XRP Price Outlook: SEC Appeal and ETF Progress Crucial
XRP’s near-term trajectory hinges on three key drivers: the SEC’s appeal withdrawal, terms of the Final Judgment settlement, and progress on XRP-spot ETF approvals.
XRP Price Scenarios:
- Bullish Scenario: An official SEC appeal withdrawal, favorable settlement terms, and rising demand for Ripple products could send XRP toward its all-time high of $3.5505. Approval of XRP-spot ETFs could boost institutional demand, potentially pushing prices toward $5.
- Bearish Scenario: Delays to an appeal withdrawal, uncertainty over the settlement, renewed cross-appeal action, or rejection of XRP-spot ETFs would impact sentiment, risking a drop below the $1.50 level.
XRP Price Action
Daily Chart
XRP continues to trade below the 50-day Exponential Moving Average (EMA), sending a bearish near-term price signal. However, it remains above the 200-day EMA, indicating long-term support.
A break above the 50-day EMA could open the door to the March 19 high of $2.5925. If XRP makes a sustained move above $2.5925, the January 16 high of $3.3999 would be the next key resistance.
On the downside, an XRP drop below $2 and the 200-day EMA may lead to a fall toward the $1.9299 support level.
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