XRP price records net loss in March despite SEC case resolution
XRP has since retreated to levels seen before the news
XRP price struggles to continue its bullish momentum as it erases gains that erupted due to the recent SEC lawsuit resolution. The token initially surged after the U.S. Securities and Exchange Commission (SEC) withdrew its appeal, effectively ending the long-running legal battle. However, the momentum faded quickly, and XRP has since retreated to levels seen before the news.
As of March 31, XRP trades near $2.05 in the European session, marking a fresh three-week low. This decline extends XRP’s net loss in March to nearly 7%, with today’s drop alone pushing it down 3.7%. The prolonged selling pressure has sent XRP’s 4-hour Relative Strength Index (RSI) back into oversold territory, indicating potential exhaustion from sellers in the short term.
XRP price dynamics (Jan - March 2025). Source: TradingView
XRP price outlook: ETF approval hopes emerge as new catalyst
Given the SEC lawsuit behind the previous rally, the market’s attention has shifted to another major catalyst which is the potential approval of spot XRP exchange-traded funds (ETFs) in the U.S. Several high-profile asset managers, including Franklin Templeton, Grayscale, and Bitwise, have filed applications and are awaiting approvals before the end of the year.If approved, an XRP ETF could drive institutional inflows and strengthen price support.
However, until a decision is made, XRP remains vulnerable to broader market trends and technical resistance levels. Technical indicators also show increasing resistance at $2.26. The 50-period Exponential Moving Average (EMA) on the 4-hour chart now aligns with the resistance zone at $2.26, reinforcing a strong barrier that bulls need to reclaim to shift momentum. However, in the short term, failure to hold above $2.00 could open the door for further losses, while reclaiming $2.26 may pave the way for a recovery.
Open interest in XRP futures jumped 36% in two weeks, signaling traders' positioning for a potential rebound. XRP price declined for a third straight day, nearing the $2.22 support level.
