XRP news today: XRP Rallies 350% as SEC Drops Appeal, Whales Accumulate

Ripple’s Chief Legal Officer, Stuart Alderoty, recently highlighted the significance of the U.S. Securities and Exchange Commission’s (SEC) decision to drop its appeal against Ripple in March 2025. Alderoty noted that this move indicates a broader recognition within the SEC that effective enforcement actions in the cryptocurrency space require clear regulatory frameworks. He emphasized the absence of established laws governing cryptocurrencies in the U.S. and stressed the need for collaboration with Congress to develop “smart crypto regulation” that protects consumers, maintains market integrity, and fosters innovation.

Market analyst Dom observed a notable shift in XRP market behavior compared to previous cycles. Historically, XRP price peaks were often driven by the perpetual futures market, indicating speculative, leverage-driven bubbles prone to sharp corrections. However, recent market data from early 2025 shows an XRP “spot premium,” where the spot market price trades higher than futures. This suggests that the current price strength is underpinned by genuine spot buying demand, indicating a more stable rally than past speculative surges.

Data from Glassnode indicates a consistent increase in the number of XRP addresses holding at least 10,000 XRP since late November 2024. This accumulation by larger holders, or “whales,” signals conviction in XRP’s longer-term prospects. Notably, this trend continued even as XRP experienced a significant 35% price pullback between January and April 2025, indicating strategic accumulation rather than short-term speculation. Since this period of increased accumulation began in late November 2024, XRP’s price has rallied by approximately 350%.

From a technical standpoint, XRP was trading around $2.21-$2.23 as of early May 3, 2025. The price is currently testing support near the 20-day Exponential Moving Average (EMA) around the $2.18-$2.20 level. Failure to hold this level could see prices revisit the $2.00 psychological mark. The Relative Strength Index (RSI) is currently at approximately 53.85, indicating bullish momentum with buying pressure outweighing selling pressure. However, the RSI is not yet in overbought territory, implying there might be room for further upward movement. The Bollinger Bands show that the upper Bollinger Band is around 2.3059, the middle Band (20-day SMA) is at 2.1649, and the lower Bollinger Band is at 2.0239. Currently, XRP is trading above the middle Bollinger Band, which is often seen as a bullish signal and a retest of $2.3 is likely.