XRP News Today: XRP Price Drops—Will SEC Appeal Shift and ETF Push Spark a Rebound?

Crypto Strategic Reserve Asset Disappointment Lingers

On Saturday, March 8, XRP declined by 2.50%, extending Friday’s 8.23% plunge to close at $2.3265. XRP underperformed the broader market for a second successive session, reflecting investor disappointment with President Trump’s Strategic Bitcoin Reserve (SBR) Executive Order. The broader crypto market slipped by 0.49% to a total crypto market cap of $2.79 trillion on Saturday.

Focus Shifts from Strategic Reserve Asset to SEC Appeal Strategy

President Trump’s decision to establish an SBR rather than a multi-crypto Strategic Reserve Asset dampened hopes that the SEC would imminently withdraw its appeal in the Ripple case.

The SEC filed its appeal-related opening brief on January 15, challenging the Programmatic Sales of XRP ruling. Since former SEC Chair Gary Gensler’s departure and Commissioner Mark Uyeda’s appointment as acting Chair, speculation has grown over a possible resolution of the Ripple lawsuit.

XRP’s inclusion as a national Crypto Strategic Reserve Asset could have pressured the SEC into withdrawing its appeal.

Pro-crypto lawyer Bill Morgan commented on Trump’s Executive Order and XRP’s exclusion:

“The Bitcoin strategic reserve is a great moment for crypto in the US. I believe it will have other American created digital assets added in time. There is a great opportunity in the short term for any country that wishes to follow America’s crypto reserve but with one critical change: instead of falling into the narrative trap of creating a single crypto reserve, start by creating a multi coin strategic reserve.”

Morgan also explained the risks of solely focusing on Bitcoin:

“This is a possible vulnerability in the bitcoin strategic reserve. If other countries move first and the US later wishes to add other cryptos to the bitcoin strategic reserve it may pay a higher price for those assets in the future than it could have paid today if it had implemented a multicoin strategic reserve.”

Despite these concerns, Morgan remained optimistic about the possibility of a future multi-crypto Strategic Reserve Asset, stating:

“I am sure the Trump administration and David Sacks will consider this and other factors and risks over time.”

XRP Price Trends: Focus Returns to the SEC Appeal and XRP-Spot ETF Developments

Following Trump’s SBR Executive Order, XRP’s near-term trajectory hinges on two crucial factors: the SEC’s appeal strategy and potential XRP-spot ETF approvals.

• Bullish Scenario: If the SEC withdraws its appeal, XRP could break above its all-time high of $3.5505. Approval of XRP-spot ETF applications may further boost XRP demand, potentially pushing it toward $5 on institutional demand.
• Bearish Scenario: The SEC pursues its appeal and disapproves XRP-spot ETF applications, sending XRP below $1.5.

XRP Price Action

Daily Chart

XRP has recorded two straight days of losses, trading below the 50-day Exponential Moving Average (EMA) but above the 200-day. The EMAs send bearish near-term and bullish longer-term price signals.

A break above the 50-day EMA, bulls may target the March 2 high of $3.0153 as the next resistance level. A return to $3.0153 could signal 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 play.

Conversely, a drop below the March 4 low of $2.2202 could bring sub-$2 levels and the $1.9299 support level into sight. A fall through the $1.9299 support level may enable the bears to target the February 3 low of $1.7024 next.

With a 14-day Relative Strength Index (RSI) reading of 45.45, XRP could fall to the $1.9299 support level before entering oversold territory (RSI below 30).

Market Outlook: Uncertainty Remains a Headwind

XRP’s price outlook remains dependent on regulatory developments, especially the SEC’s appeal decision. However, broader macroeconomic factors, including US tariffs and the Fed rate path, could also influence XRP demand.

In January, XRP surged to $3.3999 on expectations of an SEC appeal withdrawal and optimism surrounding a Trump pro-crypto stance. 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.

Don’t miss our latest price forecast—click here.