XRP News: Traders Bullish as SEC Lawsuit Conclusion Sparks Potential 75% Rally

Recent developments in Ripple’s legal battle against the SEC have significantly impacted the cryptocurrency market, with traders on Binance expressing a highly bullish sentiment towards XRP. Here’s a summary of the key details and potential future implications for XRP’s price.

Binance Traders Bullish on Ripple (XRP)

Binance traders have been highly bullish on XRP lately, perhaps driven by the conclusion of Ripple’s legal case against the SEC. Popular crypto analyst Ali Martinez outlined a substantial increase in the number of long positions for XRP on Binance, with over 72% of all futures positions currently leaning bullish.

Will XRP Rocket 75%? SEC’s Legal Decision Sparks Massive Rally

The SEC lawsuit against Ripple has caused significant impact on the cryptocurrency market, with XRP’s price surging nearly 30% in two weeks. The SEC’s decision to drop its appeal against Ripple has fueled this remarkable price surge. Technical analysis suggests a possible 75% gain as legal hurdles clear, contributing to the ongoing XRP market rally. On March 19th, Bitnomial dismissed its SEC lawsuit and launched the first CFTC-regulated XRP futures in the US.

Ripple Hits Major Milestone: First Regulated XRP Futures in US

Ripple (XRP) has achieved a significant milestone with the launch of the first-ever regulated XRP futures in the US. Bitnomial, a US-based digital asset derivatives exchange, has introduced the first CFTC-regulated futures contract for XRP, providing traders with a compliant, transparent, and capital-efficient way to gain exposure to XRP. This move is the latest in a series of major achievements for Ripple Labs and their XRP cryptocurrency.

XRP New Investor Rate Falls to 4-Month Low, Price Recovery Challenged

The altcoin XRP has failed to break resistance, signaling a continued consolidation phase. The Network Value to Transaction (NVT) Ratio for XRP has reached a five-year high, indicating that while investors are bullish, their Optimism is not translating into actual growth or usage of the network. This disparity suggests an overheated market, which often corrects as excitement cools off. The current NVT ratio suggests that XRP’s value is outpacing its transaction activity, which is a bearish signal.