Ripple’s Rollercoaster: XRP Takes a Dive! 🎢💸

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TL;DR

  • Did XRP just pull a classic ‘sell-the-news’ stunt? You betcha! It’s like a bad magic trick—now you see it, now you don’t! 🎩✨
  • Is the party over, or can Ripple’s token make a comeback? Stay tuned for the sequel: “XRP Strikes Back!” 🍿

Lawsuit Closure

Once upon a time, in a galaxy not so far away (December 2020, to be exact), the SEC decided to play the villain and go after Ripple for selling unregistered securities (XRP) worth a whopping $1.3 billion! Talk about a plot twist! 🎬💰 Exchanges dropped Ripple like a hot potato, and former partners ghosted faster than your last Tinder date.

Fast forward four years of courtroom drama that would make any soap opera jealous! Ripple was winning—at least according to the judges who seemed to have a soft spot for them. The SEC got a tiny win when Judge Torrest slapped Ripple with a $125 million penalty, but that’s like getting a participation trophy in a heavyweight boxing match! 🥊🏆

Last week, Brad Garlinghouse, Ripple’s fearless leader, announced on X that the lawsuit was basically over. The SEC decided to drop their appeal, and Ripple’s CLO confirmed they were done too! They still owe the SEC some cash, but it’s not the $2 billion they were asking for—just a measly $50 million. I mean, who doesn’t love a good discount? 💸💃

So, you’d think XRP would be doing the cha-cha after this news, right? Wrong! 🤦‍♂️

No Surge, Just Correction

Initially, XRP jumped from $2.3 to $2.6 faster than you can say “to the moon!” 🚀 But hold your horses! The reality check hit harder than a piñata at a kid’s birthday party. Within a day, XRP was back to its old tricks, stuck below $2.5 like a kid who can’t find their way home. As of now, it’s down to $2.05—losing over 20% of its peak! Ouch! 😱

And let’s not even talk about its battle with USDT for the third spot in market cap—it’s like watching a tortoise race a hare, and the tortoise is taking a nap! 🐢💤 There’s a $25 billion gap between them now, and a popular analyst is warning that XRP could plunge to $1.2 if it breaks the $2 support. Yikes! Talk about a cliffhanger! 📉

In summary, this was a classic ‘sell-the-news’ event for XRP, even though Ripple is winning in the courtroom. It’s like winning the battle but losing the war—cue the dramatic music! 🎶

But wait! There’s still hope! Certain factors could flip the script for XRP, like the potential for its own ETF in the States or Ripple going public. Or maybe those dreams have already been priced in, and we’re in for more pain. Stay tuned for the next episode of “As the XRP Turns!” 📺🍿

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2025-03-29 15:04