XRP News Today: SEC Drops the Appeal; Ripple Eyes Cross Appeal; BTC at $86k

SEC vs. Ripple: Case Dismissed!

The SEC made a complete U-turn on its assault against digital assets on Wednesday, March 19, withdrawing its appeal in the Ripple case. Ripple CEO Brad Garlinghouse announced the news on X (formerly Twitter), stating:

“This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let’s build.”

In the words of pro-crypto lawyer Bill Morgan, the appeal withdrawal means:

“XRP itself is not a security. Ripple programmatic sales of XRP are not investment contracts, and to that extent, secondary market sales of XRP are not investment contracts.”

The SEC filed its appeal-related opening brief on January 15, challenging the Programmatic Sales of XRP ruling. The timing of the appeal—just days before SEC Chair Gary Gensler’s departure—drew parallels to December 2020, when the SEC filed its lawsuit against Ripple days before former Chair Jay Clayton stepped down.

A notable difference between December 2020 and March 2025 is the political climate. US President Trump’s pro-crypto agenda and the SEC’s overhaul, aimed at fostering innovation, have redrawn the regulatory landscape.

XRP Reacts to the SEC’s Reversal

XRP reacted to the news, surging to a Wednesday session high of $2.5944 before easing back. However, despite the SEC’s reversal, XRP failed to reclaim its January 2025 peak of $3.3999 or its all-time high of $3.5505. (Binance Exchange).

Ripple Chief Legal Officer Stuart Alderoty summed up the mood:

“Today, Ripple moves forward—stronger than ever. This landmark case set a precedent for the domestic crypto industry. With the SEC dropping its appeal, Ripple is now in the driver’s seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate this victory.”

The Final Judgment and Ripple’s Cross-Appeal

Alderoty’s statement hints at Ripple’s next move: challenging Judge Torres’ Final Judgment.

In October 2024, Ripple responded to the SEC’s Notice of Appeal by filing a cross-appeal, seeking to overturn specific rulings in the case. In August 2024, Judge Torres ordered Ripple to pay a $125 million penalty for violating US securities laws and granted the SEC injunction relief, requiring Ripple to comply with US securities laws.

Speculation about a potential settlement intensified before Wednesday’s announcement. Reducing or vacating the fine would strengthen Ripple’s financial position while reversing the injunction would grant Ripple greater freedom in selling XRP to institutional investors.

Pro-crypto lawyer Jeremy Hogan summarized the events of the day:

“The SEC has apparently dropped its appeal, but we don’t know if Ripple agreed to the same. This means, as far as negative outcomes, the judgment from Judge Torres is the WORST it can get ($125m plus injunction). “

SEC vs. Ripple: Cross-Appeal or Settlement?

Hogan outlined four potential scenarios regarding Judge Torres’ Final Judgment, where Ripple:

• Continues its appeal, and we get a ruling from an appellate court on whether investment contracts require contracts, etc…
• Agrees to drop its appeal, jurisdiction returns to the trial court, and the parties attempt to amend the judgment.
• Agrees to drop its appeal, and the parties enter into an agreement between them without trying to amend the judgment.
• Just pays the $125 million and moves on.

Bill Morgan recently suggested that even if Ripple and the SEC settled, Judge Torres might still uphold the penalty and injunction. While the third option may be the simplest, the second option could offer the cleanest resolution from Ripple’s perspective.

XRP Price Outlook: Cross-Appeal and ETF Prospects

On Wednesday, March 19, XRP soared 11.46%, reversing Tuesday’s 2.31% loss to close at $2.5482. XRP outperformed the broader market, which gained 4.76%, taking the total crypto market cap to $2.8 trillion.

While news of the SEC dropping its appeal fueled a breakout, uncertainty surrounding Ripple’s cross appeal plans kept XRP below $3. Nevertheless, the SEC’s decision to drop its appeal has paved the way for an XRP-spot ETF market.

An XRP-spot ETF market could drive institutional demand for XRP, similar to flows into the BTC-spot ETF market. Since its launch in January 2024, the US BTC-spot ETF market has recorded total net inflows of $35.659 billion, fueling BTC’s surge to an all-time high of $109,312.

Key factors influencing XRP’s price outlook:

• Ripple Cross-Appeal Strategy: A settlement could drive XRP past $3.55, while legal uncertainty might push it below $2.
• XRP-Spot ETF Prospects: Approval could trigger institutional inflows, supporting a move toward $5. However, legal challenges could delay the process.
• Macro Risks: Rising trade tensions and US recession fears could drag XRP to its February low of $1.7938. Conversely, easing tensions and a resilient US economy could drive XRP toward $3.

Read expert analysis on what could drive XRP to new highs here.

Bitcoin Reacts to a Dovish Fed Policy Stance

XRP’s breakout coincided with bitcoin (BTC) climbing to a March 19 high of $87,038. Investors reacted to the Fed’s interest rate decision, FOMC Economic Projections, and Fed Chair Powell’s press conference.

The Fed maintained its benchmark Fed Funds Rate at 4.25%-4.50%, while its economic projections signaled a more dovish stance than expected. Key revisions included:

• 2025 GDP growth: Downwardly revised from 2.1% to 1.7%.
• Unemployment rate: Adjusted up from 4.3% to 4.4%
• PCE Inflation: Increased from 2.5% to 2.7%.

Despite the higher inflation outlook, the FOMC maintained its Fed Funds Rate projection unchanged at 3.9% for 2025, reinforcing its commitment to economic stability over inflation control. Markets had speculated that President Trump’s tariffs policies might push the Fed toward a more hawkish stance. However, the Fed’s position underscored its focus on sustaining economic growth.

Bitcoin Price Scenarios: Key Levels to Watch

On March 19, BTC rallied 5.01%, reversing Tuesday’s 1.53% drop to close at $86,875. Despite Wednesday’s rally, BTC remained below the $100k level for the 40th consecutive session.

Potential BTC price scenarios:

• Bearish: Escalating trade tensions, US recession fears, opposition to the Bitcoin Act, and ETF outflows could send BTC toward $70,000.
• Bullish: Easing trade tensions, US economic resilience, growing Bitcoin Act support, and renewed ETF inflows could push BTC toward $109,312.

One major regulatory event to watch is Senator Cynthia Lummis’ March 11 reintroduction of the Bitcoin Act. If passed, the bill would authorize the US government to purchase one million BTC over five years, holding it in reserve for 20 years. Such a move could significantly reduce Bitcoin’s circulating supply, potentially driving prices to new record highs.

Market Outlook: Key Drivers

Several macroeconomic and regulatory factors will influence crypto market trends in the coming weeks:

• Ripple Cross Appeal or Settlement: A settlement could spark a broad crypto rally. Judge Torres’ injunction and penalty were crucial rulings..
• US Tariff Policy: Rising tariffs may force the Fed to take a more hawkish stance, heightening recession risks.
• Strategic BTC Reserve: Government support for the Bitcoin Act could accelerate institutional adoption.
• BTC-Spot ETF Flows: Institutional demand remains a major driver of Bitcoin’s price action.

While the SEC’s retreat may ease regulatory concerns, long-term institutional confidence in crypto will depend on further regulatory clarity in the US.

Stay updated with our latest insights here.