Market Update

Bitcoin Back Above $135,000 As XRP Rallies on Ripple Update

3 minutes 12 days ago

Bitcoin
BTC
PRICE (14D)
$135,283.00
(-5.4%)
Ethereum
ETH
PRICE (14D)
$3,175.00
(-10.7%)
Solana
SOL
PRICE (14D)
$210.00
(-9.4%)
Prices in AUD and as of 12:30pm AEDT on Mar. 20, 2025

Key Takeaways

  • Bitcoin managed to close back above its 200-day moving average (MA), a key long-term momentum indicator, after closing below it earlier this week for the first time since mid-October.
  • Adoption of real-world assets (RWAs) continues to increase, with the combined value of all RWAs recently hitting a fresh record of nearly $30 billion.
  • XRP rallied by nearly 10% after the CEO of Ripple Labs said that its longstanding legal battle with the SEC has come to an end.

Bitcoin Finds Support Back Above Key Levels

Bitcoin has returned above its 200-day moving average (MA) after closing below it earlier this week, an event that had not happened since mid-October. The 200-day MA is widely considered an important long-term momentum indicator that can act as dynamic support and resistance levels.

Historically, during bull markets, Bitcoin spends a significant amount of time trading above the three significant MAs, those being the 50-, 100- and 200-day MAs. The opposite is true during bear markets. The current scenario, where Bitcoin is neither trading above nor below all three of these levels, is reflective of the holding pattern the market arguably finds itself in.

Fresh Record For Tokenised Assets

The combined value of all real-world assets (RWAs) is now $29.5 billion ($18.7 billion USD), as per RWA.xyz. Of this total, the vast majority consists of private credit. Maple (SYRUP) and Curve.fi (CRV) are two examples of onchain projects that are active in facilitating private credit loans. (Learn more about RWAs.)

XRP Rallies After Ripple CEO Says SEC ‘Case Has Ended’

Brad Garlinghouse, the CEO of Ripple Labs—the technology company behind XRP (XRP)—said that its longstanding lawsuit against the U.S. Securities and Exchange Commission (SEC) has come to an end. The price of XRP rallied by nearly 10% shortly after Garlinghouse shared the news via a video update on X.

Since a leadership change in late January, the SEC has closed investigations into various crypto companies and took no enforcement action. Among these were Uniswap Labs, the company behind Uniswap, and NFT marketplace OpenSea. Some of these investigations had spanned multiple years.

“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.”
Brad Garlinghouse, CEO of Ripple Labs


Disclaimer -
This content is for informational purposes and not financial advice. We recommend doing your own research.

Share this article

Join 2.5 million other users
and start earning!