SEC Officially Drops Ripple $XRP Lawsuit XRP Up 13%

In a shocking news today the US SEC officially drops Ripple XRP lawsuit a move that saw XRP surged nearly 15% today amidst the market dip to $2.54 pivot. in a similar events, ETH likewise reclaims the $2k pivot albeit BTC trading at 83K point.

Garlinghouse called the move “a resounding victory for Ripple, for crypto, every way you look at it.” Moreover, the move was one in a string of similar actions taken by the revamped agency this year. The arrival of 2025 has come with a completely overhauled cryptocurrency policy embraced by the returning Trump administration.

The lawsuit was originally filed four years ago, under the previous Gary Gensler-led SEC. Ripple CEO Brad Garlinghouse called the lawsuit “doomed from the start” in a statement following the dropped appeal.

“In many ways, it was the first major shot fired in the war on crypto,” Garlinghouse added. “I truly felt that I knew then that Ripple was not only on the right side of the law, but I felt that we were also going to be proven to be on the right side of history.”

The landmark decision has proven Garlinghouse and the company right in the end.

Technical Outlook
As of the time of writing, XRP is up 11% trading within over bought territory with the RSI of 73. For the altcoin, the 65% Fibonacci retracement point is serving as a support point should XRP cool off. Similarly, a break above the $2.64 price pivot that connotes with the 38.2% Fibonacci level could spark a move to $5 as more buyers will feel convicted and step in.