XRP Price Analysis: Can Bulls Reclaim $2.99 Amid Market Uncertainty?

March 8, 2025 – Ripple (XRP) experienced a 6% drop to $2.35 following Donald Trump’s announcement of a U.S. Strategic Bitcoin Reserve, which initially fueled bullish momentum but later led to a price correction.

SEC Lawsuit Speculation: A Game Changer?

• SkyBridge Capital founder Anthony Scaramucci hinted that the SEC may have dropped its lawsuit against Ripple, though no official confirmation has been made.
• Ripple secured a partial legal victory in 2023, but was fined $125 million for institutional sales violations.
• If the lawsuit is officially dismissed, XRP could see a major rally, though uncertainty remains.

Technical Analysis: Bearish or Bullish?

• Key Resistance: $2.45 (50-period EMA) – A breakout above this level could signal a bullish reversal.
• Immediate Support: $2.21, with potential downside to $2.03 or even $1.88 if selling pressure continues.
• Upside Potential: A break above $2.64 would confirm bullish momentum toward $2.99.

Market Outlook

• XRP bulls need to regain $2.45 for a sustained recovery.
• Traders should monitor volume trends before entering new positions.
• Regulatory clarity could be the key catalyst for XRP’s next big move.