XRP News Today: SEC Appeal Speculation Fuels XRP Move Above $2.19

XRP Steadies Amid Speculation Over SEC Appeal Withdrawal

On Saturday, March 1, XRP gained 2.16%, partially reversing Friday’s 2.37% loss to close at $2.1926. XRP outperformed the broader market, which rose 1.51%, taking the total crypto market cap to $2.79 trillion.

Despite the SEC’s silence on its Ripple case appeal strategy, speculation about a potential withdrawal bolstered XRP demand.

Is Ripple in Negotiations with the SEC Over Judge Torres’ Final Judgment?

In August 2024, Judge Analisa Torres delivered the Final Judgment, ordering Ripple to pay a $125 million penalty for violating US securities laws by selling XRP to institutional investors.

While Judge Torres rejected the SEC’s request for disgorgement and prejudgment interest, she granted the agency’s request for injunction relief. The ruling requires Ripple to comply with Section 5 of the Securities Act moving forward.

Legal expert James ‘MetaLawMan’ Murphy speculated on the possible reason behind the SEC’s delay in withdrawing its appeal:

“It might not be the SEC. It could be that Ripple is negotiating hard to get the SEC to agree to vacate some or all of Judge Torres’ decision. The Torres decision was unquestionably GREAT for XRP holders, BUT. The (a) finding of securities law violations and the (b) injunction (with attendant “bad boy” provisions) are not so great for Ripple.”

Murphy added:

“This is particularly true if Ripple is considering a future exempt securities offering or IPO. I believe the SEC would have accepted a settlement—where both sides dismiss their appeals and the SEC takes the $125 million penalty—in a heartbeat. So, it makes sense (to me at least) that Ripple could be negotiating for a better deal than that.”

Will Judge Torres Vacate Key Rulings?

While Ripple may be in negotiations with the SEC, James Murphy warned that federal judges are generally reluctant to vacate prior rulings as part of a settlement.

Pro-crypto lawyer Bill Morgan commented on the injunction and the possibility of having it vacated:

“This is complicated as permanent injunctions are sometimes made to protect the public and sometimes just the party seeking the injunction. This injunction against Ripple is the former, so wouldn’t Ripple, even with the SEC’s consent, need to file a motion to set it aside on the ground there has been a change in circumstances.”

Considering US case law, Morgan noted that while Ripple could file a motion, the SEC would need to give consent, which may not be enough to convince Judge Torres to vacate the injunction.

XRP Price Trends: Appeal Strategy and XRP-Spot ETFs in Focus

XRP’s near-term trajectory depends on two crucial factors: the SEC’s appeal strategy and potential XRP-spot ETF approvals. If the SEC withdraws its appeal, the path for XRP-spot ETF approval would be clearer, boosting demand. However, approving ETFs while the appeal remains unresolved could introduce uncertainty.

XRP Price Action

Daily Chart

After February’s 29.3% slump, XRP remains below the 50-day Exponential Moving Average (EMA) while holding above the 200-day. The EMAs send bearish near-term and bullish longer-term price signals.

If XRP breaks above $2.5 and the 50-day EMA, the bulls may target $3 next. A breakout from $3 could support a move 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 $2 may enable the bears to target the $1.9299 support level and the February 3 low of $1.7024 next.

With a 14-day Relative Strength Index (RSI) reading of 35.92, XRP may drop to the $1.9299 support level before entering oversold territory (RSI below 30).

Market Outlook: Uncertainty Remains a Headwind

XRP’s price trajectory remains closely tied to regulatory developments, particularly the SEC’s appeal decision. However, broader macroeconomic factors, including US tariffs and Fed policy sentiment, could also impact investor sentiment.

In January, XRP surged to $3.3999 on expectations of a favorable Ripple ruling and optimism surrounding a Trump presidency. However, US tariff tensions and a more hawkish Fed stance drove XRP below $2 before stabilizing.

Investors should closely monitor SEC actions, as any decision on the Ripple appeal or XRP-spot ETFs could trigger XRP’s next major price move.

View our latest technical and legal analysis here.