Ripple’s decision to withdraw its cross-appeal, linked to a settlement with the SEC, also failed to revive XRP demand. Following the withdrawal, XRP fell 11%. Ripple Chief Legal Officer Stuart Alderoty announced Ripple’s cross-appeal withdrawal and favorable settlement terms with the SEC regarding Judge Analisa Torres’ Final Judgment.
One crucial component of Ripple’s settlement includes a request for Judge Torres to vacate the injunction prohibiting XRP sales to institutional investors. This could be pivotal for Ripple’s US expansion plans and broader adoption of its remittance platforms.
However, the absence of SEC commentary has fueled uncertainty about the agency’s intentions. The next closed SEC meeting is on April 3. A post-meeting announcement could be vital for XRP to sustain current price levels. An official withdrawal could accelerate:
- Court filings to vacate Judge Torres’ injunction.
- Spot ETF approvals.
- Ripple’s US expansion and broader XRP adoption.
Meanwhile, Ripple continues to gain traction in the remittance space. A former SWIFT employee reportedly confirmed that over 11,000 banks successfully tested XRP on SWIFT’s network, signaling a potential surge in demand. On March 21, reports circulated that SWIFT was nearing an agreement with Ripple to use XRP for cross-border payments.
XRP Price Trends: Regulatory Action, Adoption, and Spot ETFs
XRP’s near-term trajectory remains tied to the SEC’s appeal withdrawal, the Final Judgment, and the potential approval of XRP-spot ETFs.
Potential Price Scenarios: