In the latest XRP news update, legal expert Bill Morgan highlighted the Ripple coin’s rally amid CEO Brad Garlinghouse’s crucial statement. The Ripple CEO recently stated that the US Securities and Exchange Commission (SEC) will drop its appeal in the Ripple Vs SEC case. Following this critical revelation, XRP price surged by more than 11%, defying Bitcoin’s market trend.
Notably, legal expert Bill Morgan has shed light on the asset’s surprising bullish ascendance amid the Ripple lawsuit update, a trend that contrasts with Bitcoin’s prevailing bearish sentiment. Despite significant developments, including Donald Trump’s Strategic Bitcoin Reserve, the BTC price hovers around $85k.
XRP News: Ripple Coin Surges Amid SEC Lawsuit Update
In a recent X post, legal expert Bill Morgan shared insights on the positive sentiments surrounding XRP. Bill Morgan highlighted the contrasting fortunes of Ripple’s native crypto and Bitcoin, with the former rallying 11% on SEC lawsuit developments, while BTC remains stuck in a bearish slump.
“XRP is outperforming bitcoin across multiple time intervals,” stated Morgan. Amid the ongoing rivalry between Bitcoin maximalists and XRP enthusiasts, Morgan made a striking observation, juxtaposing Ripple’s coin’s impressive gains with Bitcoin’s dump.
What Pushes XRP Price Up?
Recently, Ripple CEO Brad Garlinghouse took to X to reveal a groundbreaking development within the protracted Ripple SEC lawsuit. In an X post that reached 9.6 million viewers, Garlinghouse announced the SEC’s decision to drop its appeal in the XRP Case. He wrote:
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let’s build.
Following this surprise announcement, XRP price surged by more than 11%, hitting $2.5655. As of press time, Ripple’s native asset was trading at $2.44, marking a 6.74% increase over the last 24 hours. The token experienced a 9.33% hike over the past week despite the 4% monthly dip.
XRP Defies Bitcoin’s Bearish Trend: Key Insights
Significantly, Bill Morgan contrasted XRP’s recent bullish rally with Bitcoin’s indifferent response to notable developments. Recently, President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve, sparking widespread optimism. Though experts and analysts hoped for Bitcoin’s bullish ascend following the announcement, Bitcoin remained stagnant.
Contrastingly, Ripple’s coin exhibited a strong performance in response to Brad Garlinghouse’s statements. As pointed out by Bill Morgan, “XRP has even dragged bitcoin up in price.” Bitcoin which hovered around a low of $83k hit $87,427, following the asset’s sudden uptrend. As of now, Bitcoin is trading at $85,850, up 3.15% over the past day.
Will This Bullish Track Continue?
As the community celebrates Ripple’s major victory in the SEC lawsuit, the crypto is poised to attain new highs. Technical analyst Gert van Lagen predicted Ripple’s native asset to continue its bullish rally. He asserted that the crypto will continue its upward trend in a parabolic shape. As per his prediction, XRP’s bullish target is an ambitious $38.
Another prominent analyst, ALLINCRYPTO, XRP targets $19 as the Ripple vs SEC lawsuit ends. In addition, he predicts 2025 as a bullish year for Ripple’s coin as well as the broader crypto market.
Meanwhile market expert Egrag Crypto identified XRP as one of the best-performing cryptocurrencies over the past two years. According to his findings, XRP has outperformed Bitcoin and Ether with a staggering return of 543.6% in two years. Meanwhile, Bitcoin’s 203.8% return dwarfed Ethereum’s relatively small 14.4% increase
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