**Growing Optimism in the Crypto Space: SEC Dismisses Coinbase Case; Ripple Lawsuit Resolution Expected Soon**
Exciting developments are unfolding in the crypto world as optimism rises following the SEC’s dismissal of the Coinbase case. Predictions are swirling that a resolution for the Ripple lawsuit could arrive by April or May. XRP has seen a significant trading volume increase of 46%, reaching $5.53 billion, although its price recovery will depend on market momentum. Over the past 24 hours, XRP’s price dipped by 2.92%, settling at $2.58 after a failed attempt to break through the $2.70 resistance level. Since early February, when XRP was priced at $3.03, it has faced challenges in stabilizing, even dropping to $2.10 within just 48 hours.
Despite a partial recovery to $2.77, renewed selling pressure has pushed XRP back toward its current range. According to CoinGlass, there has been a 9.72% decrease in XRP futures open interest, now at $3.80 billion. However, the surge in trading volume indicates a revival of market activity. In a notable regulatory milestone for South America, Brazil has recently approved its first spot XRP ETF. While the listing date is yet to be announced, this approval stands in contrast to the ongoing delays in the U.S., where asset managers like Grayscale, 21Shares, and Bitwise are still waiting for SEC decisions on similar proposals.
The legal landscape surrounding Ripple’s lawsuit with the SEC has garnered significant attention. Following the SEC’s unexpected dismissal of charges against Coinbase, speculation about a potential resolution in the Ripple case has intensified. Jeremy Hogan, a lawyer advocating for XRP, has expressed optimism, suggesting that the lawsuit could conclude by April or May based on procedural patterns. He noted, “An earlier resolution is definitely in play, but I’m still thinking it might be May. May or the first half of April. Just a hunch.”
Adding to this optimism, the SEC has recently paused several crypto-related enforcement actions, including the closure of an investigation into OpenSea. The next court date for the Ripple case is set for April 16, with Judge Analisa Torres overseeing a $125 million penalty ruling that will remain in effect until August 2025. Fox Business correspondent Eleanor Terrett has pointed out that resolving the appeal may require negotiations between Ripple and the SEC to adjust or potentially drop the penalty, pending judicial approval.
As noted by ETHNews analysts, XRP’s ability to reclaim the $3 level hinges on sustained trading volume. While the Brazil ETF presents long-term potential, immediate price movements will depend on broader market sentiment and legal clarity. The SEC’s evolving stance on crypto enforcement, described by former official John Reed Stark as a “radical turnabout,” could further influence the outcomes in this dynamic landscape. The interplay between legal resolutions and investor sentiment continues to shape the future of XRP and the broader crypto market.
