XRP (XRP<\/a>) has seen an increase for the second consecutive day, rising by 3% to hover around $2.45 on March 24.\u00a0<\/p>\n The price of XRP has surged 5% over the previous week, climbing 31% above its recent low of $1.89 reached on March 11, as the majority of cryptocurrency values turned positive amid enhancing market sentiment.<\/p>\n XRP\/USD daily chart. Source: CoinTelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Let’s explore the elements contributing to XRP’s positive momentum today.<\/p>\n The favorable sentiment was not limited to XRP, as cryptocurrency values across the spectrum also increased, supported by <\/a>Bitcoin\u2019s weekly close<\/a> surpassing $86,000 on March 23.<\/p>\n Key observations:<\/p>\n Bitcoin (BTC<\/a>) led the upswing, increasing by 2.3% on the day to about $87,300.<\/p>\n<\/li>\n Ether (ETH<\/a>) experienced a rise of more than 1.7% over the past 24 hours, trading just above $2,000.\u00a0<\/p>\n<\/li>\n Other leading cryptocurrencies such as Solana (SOL<\/a>), Dogecoin (DOGE<\/a>), and Cardano (ADA<\/a>) also demonstrated notable increases, as depicted in the chart below.<\/p>\n<\/li>\n The overall crypto market capitalization expanded by 2.85% to reach $2.84 trillion at the moment of writing.\u00a0<\/p>\n<\/li>\n<\/ul>\n 24-hour performance of leading cryptocurrencies: Source: Coin360<\/em><\/p>\n<\/figcaption><\/figure>\n This performance coincides with a considerable enhancement in market sentiment over the past month.<\/p>\n<\/li>\n In the last 30 days, the Fear and Greed Index has climbed from a lowly 10, indicating \u201cextreme fear,\u201d to a more favorable 45, reflecting a transition toward neutral grounds.<\/p>\n<\/li>\n<\/ul>\n Crypto Fear & Greed Index. Source: Alternative.me<\/em><\/p>\n<\/figcaption><\/figure>\n This recovery signifies an increasing confidence throughout the cryptocurrency landscape and a renewed interest in altcoins.<\/p>\n<\/li>\n Heightened trading volume (up 54% on March 24) and buyer activity today highlight this shift in sentiment, helping to elevate XRP\u2019s price further.\u00a0<\/p>\n<\/li>\n Although it has not entered “greed” territory yet, this progress implies the market is beginning to warm up, benefitting XRP.<\/p>\n<\/li>\n<\/ul>\n A key driver for XRP\u2019s price elevation today is likely the positive ramifications of the SEC dismissing its case against Ripple.\u00a0<\/p>\n This is it \u2013 the moment we\u2019ve been anticipating. The SEC will abandon its appeal \u2013 a definitive triumph for Ripple, for crypto, in every aspect.<\/p>\n The future appears promising. Let’s build. pic.twitter.com\/7WsD0C92Cm<\/a><\/p>\n \u2014 Brad Garlinghouse (@bgarlinghouse) March 19, 2025<\/a><\/p><\/blockquote>\n In the lengthy lawsuit<\/a> that started in 2020, the US Securities and Exchange Commission (SEC) charged Ripple with selling XRP as an unregistered security.\u00a0<\/p>\n<\/li>\n This overhang hindered XRP\u2019s value and adoption for years, as exchanges delisted<\/a> the currency.<\/p>\n<\/li>\n However, a crucial development arose when Ripple CEO Brad Garlinghouse declared on March 19, 2025, that the SEC plans to withdraw its appeal<\/a>.<\/p>\n<\/li>\n This information, widely shared in crypto circles, has ignited optimism that the veil of regulatory uncertainty may finally be lifted.\u00a0<\/p>\n<\/li>\n Regulatory clarity would affirm XRP\u2019s classification as a non-security for retail transactions\u2014aligning with past court decisions<\/a>\u2014and facilitate broader institutional acceptance and potential approval for a spot XRP ETF<\/a>.\u00a0<\/p>\n<\/li>\n Ripple CEO Brad Garlinghouse stated that this decision \u201cprovides a lot of certainty for Ripple\u201d and that the case is virtually concluded.<\/p>\n<\/li>\n<\/ul>\n As noted by Cointelegraph, the SEC\u2019s choice to drop the Ripple case sets no legal precedent<\/a>, and the industry still lacks the legal framework it seeks.\u00a0<\/p>\n Related: <\/strong><\/em>SEC\u2019s XRP reversal indicates a victory for the crypto industry ahead of SOL futures ETF launch: Finance Redefined<\/strong><\/em><\/a><\/p>\n Nonetheless, the crypto community holds a favorable outlook that the stablecoin bill and the proposed crypto framework FIT 21 bill will be passed by the end of this year<\/a>.<\/p>\n XRP’s price demonstrates resilience today after reversing the 50-day simple moving average<\/a> (SMA) at $2.52 back into support.<\/p>\n Key levels to monitor:<\/p>\n The bulls now possess theireyes focused on surpassing resistance at the 100-day SMA around $2.52.<\/p>\n<\/li>\n Essential levels to observe above the 100-day SMA include $2.80, the psychological barrier at $3.00, and the significant resistance at $3.20.<\/p>\n<\/li>\n Surmounting these obstacles with amplified volume could enable XRP to challenge its seven-year peak of $3.40<\/a>, attained on Jan. 16.<\/p>\n<\/li>\n<\/ul>\n XRP\/USD daily chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n The RSI<\/a> has transitioned across the midpoint into the positive zone, and its current value of 52 indicates growing bullish momentum.<\/p>\n<\/li>\n<\/ul>\n On March 23, well-known analyst Dark Defender stated<\/a> that the support level at $2.22 and the resistance level at $2.50 were crucial points to monitor.<\/p>\n \u201cThis week will be essential in determining if we remain above or below these critical thresholds,\u201d the analyst elaborated, adding:<\/p>\n \u201cWe are currently in monthly wave four, which will conclude with Wave 5 targeting higher objectives.\u201d<\/p><\/blockquote>\n XRP\/USD daily chart. Source: <\/em>Dark Defender<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n This article does not offer financial advice or recommendations. Each investment and trading action carries risks, and readers ought to perform their own research before making any decisions.<\/p>\n <\/div>\nXRP surges along with the crypto market<\/strong><\/h2>\n
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Anticipations of legal clarity following SEC’s appeal withdrawal<\/strong><\/h2>\n
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XRP price reclaims the 50 SMA<\/strong><\/h2>\n
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