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Leading crypto exchange Bitrue has triggered excitement in the XRP community by suggesting the coin could be heading for a moonshot.
In a tweet earlier today, Bitrue specifically asked crypto community members about their readiness to see XRP “go to the moon.” The post has gained traction, with many expressing excitement about the potential for soaring XRP prices.
Why the Talks About XRP Moonshot Right Now?
Notably, Bitrue’s XRP moon hint comes amid major news currently making the rounds in crypto circles. Specifically, the long-running lawsuit between the SEC and Ripple has officially come to an end.
On Wednesday, March 19, Ripple CEO Brad Garlinghouse excitedly disclosed that the SEC had confirmed it would drop its appeal against the company. Back in August 2024, the case received a final judgment from Judge Analisa Torres. It included a monetary penalty against Ripple and an injunction.
However, a few months later, the SEC disclosed that it was appealing parts of the rulings. This move kept Ripple hanging until yesterday, when the agency’s new leadership moved to close the appeal, ending the lawsuit.
The weight of the news impacted the price of XRP. The token quickly soared by about 15% to nearly $2.60. Notably, it briefly ranked among the top gainers of the day.
With the official end of the lawsuit, many believe XRP is headed for the moon. For instance, a few weeks ago, the founder of Alpha Lions Academy, Edoardo Farina, argued that XRP’s price could surge to as high as $10 following the announcement of the end of the Ripple lawsuit.
Community Members React to XRP’s Movement Amid Major News
Meanwhile, the XRP price rally soon lost momentum. At press time, the coin had retraced to $2.45. Yet, it still boasts an impressive 8% gain over the last 24 hours.
Community members reacting to Bitrue’s post highlighted this “disappointing” price performance. Some pondered what else was holding XRP back from a major moonshot, considering one of its biggest hurdles—the Ripple case—was now over.
“This was major news, and nothing major happened to the price,” said X user Spidysense. Another said it’s all talk and no action: “The case ended, and still XRP can’t even break $3.”
What’s Next for XRP?
Meanwhile, this discouraging XRP performance did not come as a surprise to many. Just last week, analyst Dom had suggested that XRP’s performance following the Ripple settlement news would disappoint many. According to him, it would be a great surprise if XRP saw a 20% surge, which, indeed, did not happen.
Dom stressed that the news had already been priced in, with major rumors leading up to the ultimate announcement. He noted that there was no element of surprise, which is typically needed to trigger a major uptrend.
In his view, the factor that could propel XRP would be a major partnership Ripple may announce following the resolution of the lawsuit.