XRP Drops 20% Post-SEC Lawsuit Withdrawal, Trades Near $2.12

XRP, the cryptocurrency associated with Ripple, has experienced a significant decline in recent weeks, with its price dropping by over 20% since the U.S. Securities and Exchange Commission (SEC) withdrew its lawsuit against Ripple on March 19. As of early April 2, XRP was trading near $2.12, marking a more than 2% decrease over the past 24 hours. This downward trend has been accompanied by a notable decrease in global search interest for XRP, which has fallen to a new low reading of 17, according to Google Trends data. This decline in interest is a stark contrast to the peak interest seen in December 2024 and January 2025, when XRP experienced a major price surge.

Despite several positive background factors, such as President Donald Trump’s hints at including XRP in a national crypto stockpile and ongoing expectations that the SEC may soon approve spot XRP exchange-traded funds (ETFs), XRP’s price performance has remained underwhelming. Crypto analyst Egrag Crypto has predicted that April will be a key month for XRP, characterized by major price swings and volatility. According to Egrag, XRP is likely to test both its lower support and upper resistance levels soon, with the cryptocurrency potentially dipping back toward the $1.90–$1.79 support range before making a move toward the $2.80–$3.00 resistance area. This expected price action is not predicted to be smooth, involving “quick wicks” – rapid price spikes that briefly test these key levels without sustaining them for long periods.

Following this anticipated period of price testing and volatility, Egrag sees the asset surging 62–70% from its eventual lowest point established during this corrective phase. However, this rally might not happen immediately. The market could linger in what Egrag describes as a “boredom phase,” during which price movements are minimal, giving the illusion of stagnation. Such quiet consolidation phases often set the stage for a powerful eventual breakout move higher in technical patterns. After a brief revisit to the $2 range, XRP might surprise everyone with a “final blastoff,” marking the start of a new bullish cycle. As Egrag puts it, “Ready or not, XRP will take you by surprise!” This hints that the current lull could be the calm before a storm of price action.