XRP Falls 11% Despite SEC Clarity, Outlook Bearish
Key Takeaways
Despite a legal victory against the U.S. Securities and Exchange Commission (SEC), the XRP token has seen a significant drop in market value. Within one week, its price declined by 11%. The number of active wallets on the network has fallen by nearly 70%. Although XRP now enjoys regulatory clarity, investor confidence appears to be eroding. Hopes for a potential XRP ETF (Exchange Traded Fund) remain, but short-term indicators are predominantly negative.
SEC Withdraws Appeal – XRP Gains Regulatory Clarity
After years of legal battles, the SEC has withdrawn its appeal in the Ripple case. This leaves the 2023 ruling in place: the sale of XRP on public exchanges such as Coinbase or Kraken does not violate U.S. securities law. However, direct sales to institutional investors were classified as securities transactions. Ripple was fined 125 million USD as a result.
This decision provides XRP with a clear legal classification – a rare occurrence in the crypto sector. Unlike ongoing proceedings against other platforms such as Coinbase or Kraken, the Ripple case has reached a significant milestone.
Market Reacts Negatively – Activity and Price Decline
Despite the positive legal development, the market remains sceptical. On-chain data indicates a sharp decline in daily active addresses on the XRP network, pointing to waning interest and reduced usage. Such declines often lead to lower liquidity and increased selling pressure.
Over the past two weeks, XRP has lost more than 11% in value. The low trading activity suggests that many investors are pulling back or shifting to other cryptocurrencies. Without new use cases or momentum, demand remains weak.
Technical Analysis: Weak Signals Prevail
At the time of analysis, XRP was trading at 2.18 USD. The Relative Strength Index (RSI) stood at 42.65 – a value indicating weak market strength, though not yet in oversold territory. The On-Balance Volume (OBV), an indicator measuring the ratio of buying to selling volume, is trending downward. This points to declining buying interest.
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Key support levels such as 2.10 USD have already been breached. If selling pressure continues, XRP could fall to 2.00 USD or even 1.90 USD. Only a sustained rise above the 2.30 USD mark would improve the chart pattern and signal a potential trend reversal.
Outlook: Hope for ETF, But Short-Term Pressure Remains
A potential XRP ETF remains a source of hope. The regulatory clarity could pave the way for approval in 2025. However, short-term risks dominate. Low network usage and weak market interest are weighing on the price.
Unless new use cases emerge or investor confidence returns, XRP is likely to remain under pressure. From a technical standpoint, stabilization is only possible with higher volume and a break above key resistance levels.
Our Assessment
The SEC’s withdrawal is an important step for XRP and the broader crypto market. However, legal clarity alone is not enough to support the token’s price. Market participants are responding with caution, reflected in declining activity and falling prices. For traders, XRP remains a risky short-term investment. In the long term, an ETF could provide new momentum – but for now, that momentum is lacking.
Sources
- Santiment
- CoinMarketCap
- TradingView
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