Key Insights:
The US SEC has dropped the XRP Lawsuit Appeal, disclosed by Brad Garlinghouse.
ETF approval could be on the cards as 9 XRP ETFs get ready for listing.
The US Government might use XRP Ledger for all internal transactions.
If all the expected events turn favorable, XRP could see $7 in May and $30 within 2025.
Ripple CEO Brad Garlinghouse has announced via his X account that the SEC has withdrawn its appeal challenging the SDNY court's decision. This withdrawal means that XRP's non-security status remains unchallenged in the USA.
This development was essential in paving the way for the future of XRP as the base of the US financial system and its ETF getting an approval. Last May, the SEC dropped all charges against Ethereum before granting approval to its ETFs.
Ripple had to fight a 4.5 year long battle from December 2020 when the SEC had charged it and its executives for selling "unregistered securities" without checking on whether they passed the Howey Test. The case was ruled in favor of Ripple Labs which saw a complete validation in the retail sales case while having to pay a nominal fine of $125 million in the corporate sales case.
The United States Government might make another pro-crypto move by accepting the SEC's proposal to use the XRP Ledger for better and more efficient internal transactions. The US SEC proposed replacing the ageing SWIFT mechanism (which will expire in November 2025) with the XRPL Ledger, aiming to save roughly $7.5 billion per year.
After the successful conduct of the Ripple SEC Closed Door meeting, the XRP is set to become free from all regulatory confusion. This is a critical step towards securing approval for all the 9 XRP ETFs (updated mid-March 2025) that are currently under various stages of application with the SEC.
Grayscale XRP Trust
WisdomTree XRP ETF
Canary XRP ETF
Coinshares XRP ETF
21Shares XRP Trust
Bitwise XRP ETF
Franklin Templeton XRP ETF
Pro Shares XRP ETF
Volatility Shares XRP ETF
It is essential to clarify at this stage that the SEC might not be a crypto regulator at this point but the ETFs are indeed securities and hence need the approval of the US SEC.
XRP has been one of the most resilient cryptocurrencies, with a price that refuses to fall below $2 despite the worst market conditions. Further, its recovery has been faster this week when most of the cryptocurrencies saw slight recoveries in hope of a rate cut in May 2025.
Sharp 10% Recovery in XRP's Price in the Last 24 Hours
CoinMarketCap
XRP USDT Chart with Supports and Resistance Levels
Tradingview
On the short timeframe charts, we see that XRP might cross $3.5 in March 2025 if it manages to cross $2.5 this week and $5 in March if the markets see any hope in approval of its ETFs.
Long timeframe charts indicate that XRP might see a solid rise in 2025 based on a W shaped double bottom pattern and on the basis of two highly bullish factors, its adoption in the US Financial System which would force a global adoption, and its ETF approval, which would solve all liquidity crisis for it.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.