Ripple’s XRP Surges 10% as SEC Appeal Deadline Looms

By Ethan, Contributor
March 21, 2025 – 10:30 AM PDT, San Francisco, CA

Ripple Labs’ XRP token soared 10% to $2.75 today as traders piled in ahead of an April 16 deadline for the SEC to appeal a landmark 2023 ruling in the company’s favor. The surge, one of XRP’s biggest single-day gains this year, reflects mounting optimism that Ripple’s legal saga—stretching back to a 2020 lawsuit—might finally near its end. If the SEC balks, analysts say XRP could hit $4 by summer.

The case, pitting Ripple against regulators over whether XRP is an unregistered security, has been a crypto bellwether. A July 2023 decision by Judge Analisa Torres found XRP sales to retail investors weren’t securities, handing Ripple a partial win and slashing a $1.3 billion penalty to $125 million. The SEC’s mulling an appeal, but today’s market move suggests bets are on a stand-down—especially with a Trump administration eyeing lighter crypto oversight.

Ripple’s been vocal about its next steps. CEO Brad Garlinghouse, speaking at a San Francisco fintech conference, called the deadline “a line in the sand” for clarity. The company’s pushing an XRP ETF, with filings prepped for NYSE approval if the SEC backs off. Such a fund could unlock billions in institutional cash—Grayscale’s already floated a similar plan—driving today’s rally. XRP’s trading volume hit $3 billion, triple its weekly average.

The stakes go beyond Ripple. The SEC’s loss dented its crypto crackdown, emboldening firms like Coinbase to challenge enforcement actions. A Trump-led shift—hinted at in his summit speech today—could further erode Gensler’s hardline legacy before his 2026 exit. Ripple’s spent $200 million on legal fees, a war chest it claims proves the industry’s ready to fight back. Garlinghouse hinted at lobbying for a “crypto bill of rights” post-case.

Headwinds persist, though. The SEC could still appeal, dragging the saga into 2026 and spooking markets. XRP’s utility—tied to Ripple’s cross-border payment tech—faces competition from SWIFT’s blockchain upgrades, which nabbed 10% more bank clients last year. Plus, XRP’s price is volatile; a 2024 peak of $3.10 crashed to $1.80 in weeks. Today’s jump feels like hope, not certainty.

Ripple’s ecosystem is buzzing regardless. Its On-Demand Liquidity platform, powered by XRP, now serves 70 countries, with Banco Santander doubling its usage in 2024. An ETF would supercharge that, analysts say—potentially tripling transaction volume. Garlinghouse teased “major bank deals” post-deadline, though he dodged names. The market’s betting those tie-ins hinge on legal closure.

Investors aren’t alone in watching. Crypto exchanges like Kraken, which relisted XRP after the 2023 ruling, are prepping for bigger flows—volume spiked 15% today. Wall Street’s warming too; Morgan Stanley upped its XRP outlook to “outperform,” citing regulatory tailwinds. If the SEC blinks, XRP could ride a wave of pent-up demand—assuming Ripple keeps its footing.
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For now, the clock’s ticking. April 16 looms as a make-or-break moment, with Ripple’s fate—and XRP’s price—hanging on the SEC’s next move. Today’s surge shows the market’s leaning bullish, but crypto’s known for twists. Garlinghouse’s betting on victory; the next 26 days will tell if he’s right.
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