Ripple (XRP) Market Performance and Regulatory Developments
Ripple (XRP) has been on a downward trajectory over the past two weeks, experiencing an 11% decline in the last 14 days and a sharper 15.17% drop in the past seven days. Currently trading at $2.07, XRP’s price action has been influenced by both market conditions and ongoing regulatory proceedings.
Although Ripple’s four-year legal fight with the U.S. Securities and Exchange Commission (SEC) has ended, XRP still faces challenges. The SEC chose not to appeal; however, Judge Torres’ ruling partially remains, determining that Ripple’s direct sales of XRP to institutional investors broke securities laws, incurring a $125 million fine.
The U.S. SEC’s closed-door meeting on April 3 has sparked speculation within the XRP community, with investors eager to see if XRP-related topics, particularly the potential approval of an XRP Exchange-Traded Fund (ETF), will be discussed. The meeting, set to take place remotely and at the SEC’s headquarters in Washington, D.C., will cover key regulatory matters, including the institution and settlement of injunctive actions, administrative proceedings, participation in civil litigation, and other enforcement-related issues.
Attendees will include SEC Commissioners, legal counsel, recording secretaries, and staff members directly involved in these discussions. While the meeting’s closed nature leaves much uncertainty, XRP investors and market participants will closely monitor any developments that could impact the cryptocurrency’s regulatory status and future market performance.
XRP Market Outlook
Crypto analyst Josh from Crypto World highlighted that XRP recently showed a bullish bounce after reaching an oversold level on the Relative Strength Index (RSI). This suggests a potential short-term relief rally, but it does not necessarily indicate a definitive market bottom.
XRP faces key resistance levels between $2.24 and $2.30, with further barriers at $2.48 and $2.56 if it breaks above the initial range. On the downside, if demand weakens, XRP could fall to $1.35, especially if a Head and Shoulders pattern is confirmed. As highlighted in our previous article, some price models predict that XRP could peak between $3.52 and $4.29 this year, while others remain more conservative.
In terms of market activity, trading volume has dropped by 21.05% in the last 24 hours to $3.07 billion, indicating reduced participation, while open interest has declined by 4.61% to $3.51 billion, suggesting a potential decrease in investor positions. However, the options market tells a different story, with options volume surging by 70.85% to reach $6.84K and options open interest skyrocketing by 112.74% to $981.09K, signaling increased trader interest and a possible rebound toward $2.50 in the short term.
Meanwhile, whale activity has added another layer of volatility, as crypto analyst Ali Martinez reported that whales offloaded 1.12 billion XRP in the last 48 hours. The large-scale sell-off by major XRP holders could drive price volatility while rising options activity suggests traders are either hedging against further declines or positioning for a rebound. Additionally, regulatory uncertainty surrounding Paul Atkins’ SEC chair confirmation remains a key risk; if he is rejected, XRP could drop below $2.