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Ripple Vs. SEC Lawsuit: XRP Price Balks At The Latest Developments
The Ripple vs. SEC lawsuit has taken an interesting turn. A recent development suggests that this long-running legal battle might end soon. Surprisingly, the XRP price has failed to react positively to this development and has, instead, crashed significantly.
XRP Price Fails To Respond Positively To Recent Ripple Vs. SEC Development
CoinMarketCap data shows that the XRP price crashed over 6% and 24% in the last 24 hours and seven days, respectively. This price crash occurred despite positive developments in the Ripple vs. SEC lawsuit, including the US SEC’s decision to reassign its Chief Litigation Council, Jorge Tenreiro, to the agency’s IT department.
This development is positive for the Ripple vs. SEC lawsuit as Tenreiro led the agency’s crypto unit and oversaw the lawsuits against Ripple and other crypto lawsuits. Following this move and the reassignment of over 50 SEC lawyers, crypto experts like Del Crypto have speculated that the Commission could soon make an announcement, which would mark the end of the lawsuit.
As Bitcoinist reported, the US SEC is also scaling back its crypto enforcement efforts by downsizing the special unit designated for this purpose. Indeed, this suggests that the Commission is ready to drop the Ripple lawsuit and other crypto-related actions that the new administration feels were wrongly pursued by Gary Gensler’s administration.
These developments are bullish for the XRP price, considering how it has been greatly impacted by the long-running Ripple vs. SEC lawsuit. Still, the crypto has failed to rally in response to these positive developments, which is undoubtedly concerning.
However, a plausible explanation for the XRP price crash amid these positive Ripple vs. SEC lawsuit developments is the bearish sentiment in the broader crypto market. The Bitcoin price is currently failing to hold critical support levels, which explains why XRP and other altcoins have crashed.
Meanwhile, the XRP price may have priced into a potential end to the Ripple vs. SEC lawsuit since Donald Trump won the election. Since Trump’s victory, there have been speculations that the Commission would drop its appeal against Ripple, especially given the president’s pro-crypto stance and his nomination of Paul Atkins for the SEC Chair role.
XRP Still Has Room To Run In This Bull Run
Despite the XRP price crash and its failure to react positively to the developments in the Ripple vs. SEC lawsuit, crypto analysts have suggested that XRP still has more room to run to the upside in this bull run. One of these analysts is Dark Defender, who predicted that the crypto could rally to $8 soon enough.
Crypto analyst Egrag Crypto also recently revealed that the XRP price is mirroring a 2017 pattern. Based on the similarities, the analyst stated that XRP could surge by 1,500% and rally to as high as $27 in the coming weeks.
At the time of writing, the XRP price is trading at around $2.29, down almost 7% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Medium, chart from Tradingview.com
As the crypto market is regaining momentum following the recent turmoil, leading altcoins such as Ethereum are exhibiting significant signs of growth and renewed potential. Driven by historical data, analysts and experts remain optimistic that 2025 Q1 will be bullish for the Ethereum price.
Ethereum Price Awaits Huge Breakout, Targets $7.5K
Crypto enthusiast TraderPA took to the X platform to share a bullish view on the Ethereum price. According to TraderPA’s analysis shared via an X post, Ethereum (ETH) is set to pump by 3x in 2025, targeting the ambitious $7.5k.
Similarly, Mister Crypto, another crypto analyst, predicted that a huge breakout would be inevitable for Ethereum. At the same time, trader Ted shared a long-term target for the Ethereum price. As per his analysis, Ethereum’s price could potentially surge to $5,000, $7,000, or even a more aggressive target of $10,000.
2025 Q1: A Bullish Quarter Ahead?
According to Crypto Rover, a prominent analyst, Q1 is usually bullish for Ethereum, especially during a bull market. Drawing on Ethereum’s successful price trends in the first quarters of 2017 and 2021, Crypto Rover forecasts a repeat of this historical pattern.
Ethereum is undervalued.
Q1 is always bullish for Ethereum during a bull market year.
In the end, you’ll regret not buying more at these levels.
Just take a look at this chart.👇 pic.twitter.com/1BgXpbcld0
— Crypto Rover (@rovercrc) February 7, 2025
Interestingly, the Ethereum price which stood at $7 in January 2017 increased to $56 in March. Similarly, ETH saw a steep climb from $560 to $2,100 in 2021 Q1.
Ethereum Mirrors Bitcoin’s Rise: What To Expect?
As of press time, Bitcoin is exchanging hands at $97,555.74, marking a marginal increase of 0.67% over the last 24 hours. Meanwhile, Ethereum is still caught within the bearish trend, registering a daily drop of 0.75% and a weekly decline of 20.62%.
Nevertheless, both Bitcoin and Ethereum are displaying strong upside momentum, indicating a potentially bullish outlook. While Bitcoin is experiencing an upward push, Ethereum is following suit.
According to Merlijn The Trader, Ethereum is following Bitcoin’s 2016-2017 cycle to perfection. The analyst added that Ethereum is set for a parabolic move to new all-time highs if history repeats.
Increasing ETH Purchases Trigger Price Surge
Notably, the Ethereum price’s potential rally could be attributed to multiple factors, including massive ETH purchases. Amid the sensational Bitcoin ETF in-kind redemption procedures, asset manager BlackRock has acquired approximately $280 million in Ethereum ETFs.
In addition, investment firm Fidelity and President Donald Trump’s crypto project, World Liberty Financial, have also invested millions in Ether. Thus, it is obvious that these huge ETH purchases have significantly contributed to the Ethereum price’s possible bullish trajectory.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The potential approval of an XRP ETF is looking more likely, which is bullish for the XRP price. Although XR hasn’t reacted positively to the recent ETF news, this fund could contribute to the projected rallies for the crypto.
How Will An XRP ETF Impact The XRP Price
An XRP ETF is undoubtedly a positive for the XRP price, as it will drive institutional funds into the XRP ecosystem, which could lead to a massive surge for the crypto. In fact, approval of the pending ETF applications could be one of the catalysts for XRP’s projected rallies in this market cycle.
Crypto analyst Dark Defender recently predicted that the XRP price could rally to $8 if it holds the crucial support level at $3. However, from a fundamental standpoint, approval of an XRP ETF could be what drives XRP to this price target.
It is worth mentioning the impact that the Spot Bitcoin ETFs had on the Bitcoin price, as it rallied to a new all-time high (ATH) a few months after the BTC ETFs launched.
Similarly, the XRP price could rally to a new ATH and even reach this $8 price target if the XRP ETFs eventually launch. Meanwhile, there is also the possibility of the crypto rallying to as high as $27 in this market cycle.
Crypto analyst Egrag Crypto recently revealed that the crypto was mirroring its 2017 pattern. Based on this, the analyst predicted that XRP could rally to $27 from its current level.
Situation Of Things
Six asset managers, Bitwise, Canary Capital, Grayscale, WisdomTree, REX Shares, and 21Shares, have all filed to offer an XRP ETF. The CBOE BZX Exchange recently filed 19b-4s with the US SEC to list and trade XRP ETFs offered by Bitwise, Canary Capital, 21Shares, and WisdomTree.
Despite this development, the XRP price failed to rally, which sparked a bearish sentiment among some market participants. However, it is worth mentioning that the bearish outlook around the crypto’s price is due to the bearish sentiment in the broader crypto market. The Bitcoin price dropped to as low as $91,000 earlier this week, dragging altcoins like XRP down alongside it.
Despite this development, crypto analyst Mikybull Crypto asserted in an X post that it is hard to be bearish on XRP at its current price levels. Based on his accompanying chart, the crypto could still rally to as high as $7 in this market cycle.
Factors like the approval of an XRP ETF are bound to contribute to this projected price rally. Meanwhile, there is a high likelihood that the SEC will approve these funds under the new administration.
The Commission has shown its willingness to create a more regulatory environment by creating a crypto task force aimed at providing regulatory clarity. Additionally, the SEC recently reassigned its head crypto litigator, Jorge Tenreiro, hinting that the agency may be about to ease off on its crypto enforcement actions.
Other Positives For XRP
Besides the potential approval of the XRP ETFs, other fundamentals paint a bullish picture for the XRP price. As CoinGape reported, Ripple whales have been actively accumulating, recently buying 520 million coins amid the downtrend.
According to the New York Post, Ripple CEO Brad Garlinghouse has emerged as a top contender for a seat on the US Crypto Advisory Council, which is bullish for XRP, given the crypto’s ties to Ripple.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A Shiba Inu whale echoed a market frenzy on Friday by moving a staggering 3 trillion tokens amid a broader sector dip. Recent whale data indicated that the transfer was made between two unknown wallets, igniting a tidal wave of speculations among traders and investors globally. Meanwhile, SHIB price traded at the $0.000015 level, down nearly 2% from yesterday.
Shiba Inu Whale Moves 3T Tokens Sparking Discussions
According to recent data by Whale Alert on X, a Shiba Inu whale moved a staggering 3.36 trillion tokens, worth $51.15 million, to another unknown wallet. This move has sparked speculations as the potential reason behind the trade maneuver remains unknown. As per the data, the wallet address 0x305 was recorded to have made the transfer to another address, 0x4bd.
Although the transfer could be due to a number of reasons, it’s worth mentioning that large-scale investors, aka crypto whales, hold notable influence over the market.
61% Of Supply In SHIB Whales Control
Simultaneously, recent data by Santiment showed another vital dynamic that underscored whales’ impact on the top meme coin’s value ahead. The top 10 largest wallets in the SHIB ecosystem hold nearly 61.3% of the meme coin’s supply, an alarming concern for medium or small-scale investors.
As a small number of holders have substantial control over the market, a selloff sentiment amongst them could deal a severe hit to price. Moreover, this stat overshadows other tokens such as Ethereum, Chainlink, and Toncoin in terms of large holders’ control over the market. In light of this data, the Shiba Inu whale transaction mentioned above gained significant traction.
What’s Next For SHIB Price?
At the time of reporting, SHIB price witnessed a 2% decline and exchanged hands at $0.00001543. The meme coin’s 24-hour low and high were $0.00001478 and $0.00001575, respectively. Notably, the waning action falls in line with the broader crypto market trend.
Also, despite a nearly 500% surge in the SHIB burn rate today, per Shibburn on X, the price faces heat. The Shiba Inu whale’s transfer amid this dip raises eyebrows across the global crypto
space.
A SHIB price analysis by CoinGape reported that millions of coins were burned recently, dealing a massive blow to the supply. This has aided the token in sustaining a break above $0.000015, a vital level to witness further gains.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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