TLDR
- XRP price jumped 7-8% in 24 hours following increased network activity
- Whale investors holding 1M+ tokens accumulated 2.82 billion more XRP (6.5% increase) in past two months
- SEC dropped its appeal against Ripple, effectively ending the long-running lawsuit
- XRP active addresses in March reached levels six times higher than January/February
- Technical analysis suggests potential for 75% gains with price targets around $4.35
The price of XRP has seen a notable recovery in recent weeks, climbing approximately 30% over the past two weeks and jumping about 8% in the last 24 hours alone.
This price movement comes amid increased blockchain activity and the conclusion of Ripple’s lengthy legal battle with the U.S. Securities and Exchange Commission (SEC).
On-chain data from analytics firm Santiment shows that XRP whales – investors holding at least one million tokens (worth approximately $2.5 million) – have been steadily accumulating coins. These large investors added 2.82 billion XRP to their holdings in the last two months alone.
This represents a 6.5% increase in their collective holdings. The trend of whale accumulation has been ongoing for about a year, with these investors now owning a total of 46.4 billion XRP tokens.
Active addresses on the XRP network have also seen a boost during March. Current activity levels are approximately six times higher than those observed in January and February of this year.
This increased activity stands in contrast to many other blockchain networks. Many competitors have seen a decline in user engagement over recent months.
The surge in active addresses may indicate growing retail interest in the cryptocurrency. More users are participating in transactions on the network compared to previous months.
Technical Analysis
The recent price action is occurring within a technical pattern known as a symmetrical triangle. This formation is seen as a bullish continuation pattern by technical analysts.
If XRP breaks above the upper trendline near $2.35, technical analysis suggests a potential price target of $4.35 by June. This would represent a 75% increase from current levels.
$XRP is trading within a triangle similar to December when it broke to the upside
Does history repeat itself? 🚀 pic.twitter.com/6TOjftzKsz
— Trader Edge (@Pro_Trader_Edge) March 21, 2025
The positive price movement gained momentum after the SEC dropped its appeal against Ripple on March 19. Ripple CEO Brad Garlinghouse announced that this development effectively ends the case that has been ongoing for over four years.
In addition to the SEC news, crypto exchange Bitnomial voluntarily dismissed its lawsuit against the SEC. The exchange then launched the first CFTC-regulated XRP futures contracts in the United States.
Futures contracts allow traders to speculate on XRP’s price without directly holding the asset. This typically increases market activity and deepens liquidity in the overall market.
Despite these positive developments, Ripple still faces one legal hurdle. An injunction issued by Judge Analisa Torres restricts the company from selling XRP directly to institutional investors like banks and financial institutions.
According to crypto lawyer John Deaton, this injunction could limit Ripple’s ability to distribute XRP to institutional investors in America. This remains a challenge for the company moving forward.
Following the announcement about the SEC dropping its appeal, XRP briefly surged from $2.3 to $2.6. This temporary spike even allowed XRP to briefly surpass Tether (USDT) in market capitalization.
However, this position was short-lived. XRP has since given back some gains and currently trades around $2.40, with Tether reclaiming its position in the top three cryptocurrencies by market cap.
XRP previously experienced triple-digit percentage gains after Donald Trump’s election victory. This rally was driven by expectations of regulatory changes that would benefit the cryptocurrency.
At the time of writing, XRP is trading around $2.51, showing an increase of more than 8% over the past seven days. The cryptocurrency’s price recovery comes during a broader rebound in the crypto market.
