XRP Price Analysis: Can Bulls Reclaim $2.99 Amid Market Uncertainty?

Ripple (XRP) saw a sharp 6% decline, falling to $2.35 after former U.S. President Donald Trump announced the formation of a U.S. Strategic Bitcoin Reserve.

On March 2, 2025, Trump revealed that the U.S. Strategic Crypto Reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), aiming to position the U.S. as a leader in crypto adoption.

Initially, this sparked bullish momentum, pushing XRP to $2.96. However, once it was clarified that the reserve would only hold seized crypto assets, not newly purchased ones, the enthusiasm faded, and XRP dropped back to $2.35.

Is the SEC Dropping Its Case Against Ripple (XRP)?

Despite XRP’s pullback, there’s speculation that its SEC lawsuit might be coming to an end. Anthony Scaramucci, founder of SkyBridge Capital, recently claimed that the SEC may have dropped its lawsuit against Ripple.

He made this statement during an interview on The Wolf of All Streets podcast, comparing the case to other SEC withdrawals involving ConsenSys, Gemini, and Coinbase.

However, there’s no official confirmation from the SEC or Ripple, making this purely speculative.

The lawsuit, originally filed in December 2020, accused Ripple of selling XRP as an unregistered security. While Ripple secured a partial legal victory in 2023, a ruling found that direct XRP sales to institutions violated securities laws, resulting in a $125 million fine.

If the SEC withdraws, XRP could see a major rally, but uncertainty remains until an official announcement is made.

Key Takeaways:

Scaramucci suggested the SEC dropped its lawsuit, but no proof has surfaced. Ripple won a partial legal victory in 2023 but was fined $125 million. XRP could surge if the case ends, but uncertainty may delay bullish momentum.

XRP Price Prediction: Triangle Breakdown Signals Bearish Bias

XRP recently broke below a symmetrical triangle pattern on the 4-hour chart, reinforcing a bearish outlook.

Key Resistance: $2.45 (50-period EMA) Immediate Support: $2.21, with downside potential to $2.03

The rejection from the descending trendline, combined with weak market sentiment, increases the likelihood of further selling. If XRP fails to reclaim $2.45, it could test $2.21 and potentially $1.88 if bearish momentum continues.

A break back above $2.45 would be the first sign of bullish recovery, with a move toward $2.64 needed to confirm upside potential. Traders should monitor volume trends before taking new positions.

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