- XRP surged 11.50% post-lawsuit resolution but lost 7% since its excitement peak, with growth likely to be more gradual as Ripple shifts focus to strategic plans
- Ripple prioritizes acquisitions and blockchain infrastructure, aiming for long-term growth in payments, tokenization, and custody services
- XRP’s sustained interest reflects investor confidence despite tempered market reactions, with modest gains of 0.77% in the past week
Following this week’s conclusion of the four-year-long lawsuit between Ripple and the Securities and Exchange Commission, XRP experienced a surge in trading volume and investor interest. The asset’s value soared by 11.50% within just one hour of the news breaking.
This led the altcoin to break above the $2.20 zone it had been dreading and is currently trading at $2.38 according to CoinMarketCap. Its market capitalization also saw a boost, going from $129 billion to over $147 billion in just a couple of days.
The end of the lawsuit has not only driven a sharp increase in XRP’s value but has also fueled a wave of bullish sentiment among investors. The resolution has reignited confidence in the altcoin’s potential, with many viewing it as a pivotal moment for XRP’s market prospects.
XRP Network Activity: Addressing Misinformation
Initial claims about XRP network activity reported by social media analyst Ali Martinez suggested a record-breaking surge, with nearly 627,000 active addresses on March 21st. However, on-chain data from TheBlock shows a stark contrast, revealing that active addresses actually fell to 11,180 on that date.
While the resolution of Ripple’s lawsuit has positively impacted XRP’s market value and sparked interest among investors, the reported surge in network activity appears to have been misleading. This emphasizes the need for careful verification when analyzing blockchain dynamics.
Why Is XRP Not Growing as Fast as Expected?
Despite the resolution of Ripple’s lawsuit, XRP’s price growth has been less dramatic than many expected. This muted reaction can be attributed to anticipatory trading, where markets often price in outcomes before official announcements. In this case, the favorable lawsuit conclusion had already been largely factored into XRP’s earlier price movements.
Since its initial peak of excitement following the announcement, XRP has lost 7%, though it has managed a modest 0.77% increase over the last 7 days, signaling some sustained interest. Moving forward, an “SEC-free” XRP will likely become far less volatile due to the relieved pressure of being on the crosshair of the Securities and Exchange Commission.
Looking ahead, any significant growth in XRP could occur more gradually, driven by Ripple’s strategic expansion plans. With the lawsuit behind them, Ripple is now focusing on acquisitions to strengthen its foothold in the blockchain industry. CEO Brad Garlinghouse emphasized the company’s intention to consolidate its position as a leader in blockchain payments, tokenization, and crypto custody services.
This strategic approach indicates a long-term vision for Ripple’s ecosystem, with advancements in areas like custody services and payment solutions expected to further integrate blockchain technology into mainstream finance.
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