- Ripple wins as the SEC drops its case, boosting bullish sentiment among XRP traders and whales
- Despite optimism, XRP’s price stays flat; a breakout needs stronger volume and resistance clearance
Ripple’s [XRP] long-running battle with the SEC may be nearing its final chapter – and XRP traders are positioning for a bullish outcome. As Ripple’s Chief Legal Officer (CLO), Stuart Alderoty’s closing remarks go viral, optimism around XRP seems to be returning.
On Binance, more than 71% of futures traders are taking long positions on XRP. Meanwhile, on-chain data reveals that whale addresses holding 10,000+ XRP have reached a record high, surpassing 300,000.
These indicators point to strong market confidence from both retail and institutional investors. With sentiment building, XRP could be approaching a critical turning point.
A closed chapter for Ripple
After more than four years of courtroom sparring, the SEC has officially closed its lawsuit against Ripple, marking a significant win for the company.
In a one-minute video shared on X (formerly Twitter), Ripple’s CLO, Stuart Alderoty framed the SEC’s withdrawal as a reflection of flawed regulatory tactics, asserting that enforcement without clear rules is fundamentally unjust.
While the SEC’s quiet exit came in the form of a dropped appeal back in March 2025, many legal analysts interpret it as a silent admission of weakness, bolstering Ripple’s position and stirring fresh confidence among XRP supporters.
Sentiment tilts strongly bullish
Source: X
Market analyst Ali Martinez had recently reported that 71.54% of Binance futures traders seem to have bet long on XRP, signaling a sharp shift in market sentiment.
The Long/Short Ratio has risen to 2.51 – a growing imbalance between bullish and bearish positions as of the 3rd of May. This surge in long positioning suggests traders are anticipating a favorable outcome following the SEC’s exit.
Source: Glassnode
On-chain data reflects growing optimism, with whale accumulation reaching record levels. According to Glassnode, the number of XRP addresses holding 10,000 or more coins has surpassed 300,000, marking an all-time high.
Notably, this accumulation trend continued even during price consolidation, suggesting conviction-driven buying. Investors may be positioning themselves ahead of a potential breakout following litigation outcomes.
XRP’s price outlook
At press time, XRP traded at $2.18 with little volatility, reflecting a consolidation phase. The RSI had rested at 50.94, squarely neutral, indicating neither overbought nor oversold conditions.
Meanwhile, OBV has failed to register a significant uptick, suggesting that despite whale accumulation, broader market participation remains limited.
Source: TradingView
This divergence between bullish sentiment and muted volume could delay any immediate breakout.
For a rally to materialize, XRP needs stronger conviction in buying pressure and a decisive close above recent resistance levels near $2.25. Until then, consolidation remains the dominant theme.