Ripple’s Lawsuit Dismissal Sparks XRP Activity Surge

On March 19, the US SEC officially ended its four-year-long lawsuit against Ripple. This led to a surge in XRP network activity, as the number of active addresses trading the token hit a year-to-date high, reflecting heightened investor interest.

XRP Demand Fades as Post-Lawsuit Hype Dies

Following the lawsuit dismissal, Ripple reported a spike in demand for XRP, with active addresses climbing to 626,854 on March 19. However, by March 23, this figure plummeted to a 30-day low of 54,704, indicating waning buying pressure in the market.

A decrease in an asset’s active address count signals reduced transaction activity, indicating bearish market conditions for XRP. Additionally, XRP’s price remains below its Super Trend Indicator, suggesting ongoing bearish pressure.

The Super Trend indicator, which measures price trend direction and strength, currently shows a red downtrend for XRP.

XRP Bulls Eye Recovery—Breaking $2.61 Could Trigger a Run Toward $2.84

As of now, XRP trades at $2.46, maintaining support at $2.13. If bearish trends continue, it risks falling to $2. If buying activity increases, a break above $2.61 could lead to a surge towards the $2.84 resistance.