The XRP market gained ground throughout Saturday after the SEC approved changes to its cryptocurrency regulations simultaneously as its case against Ripple approached critical decisions.
Over the weekend XRP achieved 0.73% growth which caused its Saturday closing value to reach $2.1443. The modest gain produced its third consecutive daily win across Ripple while most other cryptocurrencies struggled in this market environment. XRP produced a contrasting outcome than the rest of the market which experienced a 0.44% decline because rising expectations emerged about upcoming U.S. regulatory policies.
SEC Reevaluation Sparks XRP Optimism
The U.S. Securities and Exchange Commission (SEC) released a major regulatory update which caused Ripple investors to become optimistic. The Acting SEC Chair Mark Uyeda initiated on April 5 a review of digital asset guidance documents in light of Executive Order 14192 from the Biden administration to minimize regulatory hurdles for economic stimulus.
The XRP V.S SEC legal dispute has reached its most important stage
Meanwhile, the long-running SEC v. A critical stage appears near for the resolution of the Ripple lawsuit against the SEC. Brad Garlinghouse from Ripple expressed hope that the SEC plans to abandon its pursuit of challenging Judge Analisa Torres’ decision on XRP’s programmatic sales which had established these transactions as non-security transactions.
Ripple has officially removed its opposing stance regarding the final court decision. Ripple’s Chief Legal Officer Stuart Alderoty verified the progress between the SEC and Ripple in settling parts of their dispute by lifting the sale ban for Ripple toward institutional investors and decreasing the financial penalty to $50 million. Several terms will be finalized only when the SEC ends its opposing role in the case.
Technical Outlook: XRP Battles Key Resistance Levels
The price chart of XRP shows it confronting essential resistance barriers. Ripple maintains bearish momentum within the next fifty days even though it shows recent upward trends but stays under its fifty-day exponential moving average. The 200-day EMA value maintains Ripple above its price support level which gives the asset long-term backing.
Ripple could increase its value toward $2.5925 if it surpasses its 50-day EMA resistance barrier. A price breakthrough above its current level gives traders potential access to reach the $3.3999 milestone reached in January.
The price dropping to $2 would create a risk of testing the support at $1.9299. The current value of XRP’s 14-day Relative Strength Index (RSI) measures 43.12 indicating potential price fluctuations are feasible since the indicator has not reached oversold levels yet.
ETF Approval and Regulatory Clarity Could Shape Future Trajectory
Multiple significant events will determine how Ripple performs in its upcoming price movements.
- SEC’s appeal withdrawal and finalization of the Ripple settlement.
- XRP-spot ETFs might receive approval thus enabling institutional investors to participate in the market.
- U.S. macroeconomic conditions and broader market sentiment.
A favorable market situation would push XRP prices toward its previous peak of $3.5505 while potentially exceeding $5 with authorization of XRP-spot exchange-traded funds. Any ongoing SEC uncertainties plus delays in their decision-making process could push Ripple prices to values lower than $1.50.
Ripple maintains higher value than the wider market because investors expect better regulation and positive outcomes from the Ripple-SEC legal dispute. Market movement for Ripple likely depends on how investors respond to the progress and potential change in dual regulator structures for the SEC and the ability to launch an XRP ETF exchange-traded fund.