- XRP surged to $2.98 after Trump’s mention but dropped below $2 following his clarification.
- Ripple settled with the SEC, paying $50M of a $125M fine; the lawsuit officially concluded.
- Bullish triangle pattern signals possible breakout; analyst Steph sees potential rally past $10 soon.
Ripple’s XRP has been navigating a volatile month, but a powerful technical setup suggests an explosive move may be on the horizon. Traders are closely watching a tightening price structure that resembles a historical pattern, hinting at a significant breakout in the coming weeks.
XRP began March with a rapid surge, briefly touching $2.98 following a mention by U.S. President Donald Trump during remarks about the National Crypto Reserve. Momentum faded swiftly after Trump clarified that XRP, Solana, and Cardano (ADA) were excluded from the reserve plan. This clarification triggered a sharp selloff, sending it plummeting below $2, where it found support near $1.90.
Later in the month, the cryptocurrency saw another 10% rally fueled by positive developments in the long-standing SEC lawsuit. Ripple CEO Brad Garlinghouse announced that the legal dispute was officially over, providing some regulatory clarity. Despite this, broader market sentiment remained weak, preventing it from sustaining its gains. As of March 31, the cryptocurrency had settled at $2.09, reflecting a 4.21% decline over 24 hours.
SEC Settlement Ends Legal Uncertainty, but Price Stalls
Ripple also confirmed that it would no longer pursue its cross-appeal against the SEC, finalizing a settlement in which the agency will keep $50 million of the original $125 million fine. The remaining amount will be refunded to Ripple, effectively closing a case that had weighed on XRP for years.
Despite this resolution, the cryptocurrency’s price reaction has been muted, raising concerns among investors. Many expected a stronger rally following the lawsuit’s conclusion, but uncertainty in the broader crypto market has kept a lid on gains. The $2 support level has remained firm, though, signaling underlying strength.
This week, the SEC is set to hold a crucial meeting on Thursday, which could be a defining moment for XRP’s future. Discussions will center around the approval of XRP-spot ETFs, potentially offering the regulatory green light needed for broader institutional adoption. If the decision is favorable, it could unlock new avenues for Ripple within U.S. financial markets.
Bullish Triangle Signals XRP Surge
From a technical perspective, XRP has been forming a bullish symmetrical triangle pattern following a parabolic rally in late 2024. The cryptocurrency surged from around $0.50 in October to over $2.60 by December, marking a staggering 400% gain in just weeks. Since then, it has been coiling within a tightening range, forming higher lows and lower highs, a structure that typically precedes a breakout.
Technical analyst “Steph Is Crypto” highlighted that a similar triangle pattern formed between July and October 2024, leading to XRP’s explosive rally. Now, a repeat scenario appears to be unfolding, with price action consolidating within the $2.00–$2.60 range and strong support holding at $1.70. If history repeats itself, a breakout could propel it to significantly higher levels.
Market sentiment is heating up as the triangle’s apex nears, with analyst Steph suggesting that a decisive breakout is imminent. The chart features magnets, hinting at a price pull towards higher liquidity levels, potentially above $10.
XRP is looking giga bullish. Something big is coming,” Steph noted.
Related Readings | Cardano Dips but Analysts See a 2024-Like Rally Forming – What’s Next?
