28.06.2025 07:09

Following Ripple's decision to withdraw its cross-appeal against the SEC, XRP experienced a significant price surge. This action, announced by CEO Brad Garlinghouse as the definitive end to a protracted legal battle, immediately boosted investor confidence. The withdrawal effectively concludes one of the cryptocurrency industry's most highly publicized court cases.

The cryptocurrency's price jumped 3.2% within a 24-hour period, reaching $2.18. Garlinghouse celebrated the news on social media, emphasizing a shift in focus toward their core mission of building the "Internet of Value." This sentiment was echoed by Ripple's Chief Legal Officer, Stuart Alderoty, who expressed satisfaction with the legal outcome, highlighting that XRP's status as a non-security remains unaffected, regardless of the appeal's dismissal. The SEC is also anticipated to withdraw its appeal shortly, bringing a complete resolution to the long-running legal dispute.

However, while the price increase is undeniably bullish, market analysts remain cautious. CasiTrades, for example, warned of a potential dip to a crucial support level around $2.07 before any substantial further price movement. This prediction is based on the recent, controlled pullback XRP experienced, dipping to $2.10 before recovering slightly to $2.145 – a pattern the analyst considers typical. The $2.07 mark is significant because multiple technical indicators, such as Fibonacci retracements and market extension levels, converge at this point, signaling potential algorithmic and large-trader activity.