XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend

XRP price shows renewed strength after rising 5.40% to $1.44 on Thursday. The Ripple is holding support as the recent Jane Street lawsuit shifts early selling pressure. Broader sentiment also improved. 

The crypto market rose 4.19% to $2.35 trillion. Major cryptocurrencies like BTC, ETH, SOL, and ADA were continuing to record consistent rises.

Crypto Jumps as Jane Street Lawsuit Fuels End of 10 A.M. Sell-Off Speculation

Crypto markets turned volatile after news broke of a lawsuit involving Jane Street on Wednesday morning.  Traders quickly connected the development to a long-suspected pattern of heavy selling at 10 a.m. Eastern.

Some market observers had claimed that a key company was pushing prices at that fixed hour each day. In a post on X, crypto commentator Bark argued that Jane Street used an algorithm to sell Bitcoin and buy it back at lower prices.

He claimed that the recurring plan diluted prices, liquidated smaller traders, and made possible uniform buybacks at less than market value. The accusation was reiterated by on-chain analyst Nonzee, who pointed to the unexpected loss of the 10 a.m. downfall.

He posted on X that Bitcoin rather climbed hard within the identical period after the announcement of the lawsuit.

There is currently no publicly available evidence that Jane Street was systematically performing timed Bitcoin sales every morning.

Market analysts warned that coincidence is not a good enough measure to prove a coordinated manipulation or even a scheme to trade. However, the timing of the reversal caused a furor among the digital asset communities and trading desks.

XRP ETFs Extend Momentum With $3 Million Net Inflow

According to SoSoValue data, XRP spot ETFs recorded $3.091 million in net inflows on Tuesday Eastern Time.  Bitwise XRP ETF gained the most, adding $2.29 million throughout the session on February 25 trading. The cumulative historical inflows into it have reached $370 million, which shows a consistent investor desire in the product.

Franklin XRP ETF came in with 0.7957 million daily inflow of funds of up to 331 million historically to date. The total assets of XRP spot ETFs totaled $1.061 billion, and cumulative inflows, in turn, amounted to $1.237 billion in total.

XRP Price Outlook: $1.50 Breakout Could Spark Fresh Rally

As of the writing, the XRP price surged to $1.439 after posting steady intraday gains. The Relative Strength Index is currently around 58, indicating a moderate bullish momentum. The indicator is still in the underbought region, which still has opportunities to rise.

Meanwhile, the Chaikin Money Flow shows slightly positive values at 0.04. This implies the mild inflows of capital and consistent accumulation.

In case the Ripple price continues surging above $1.40, the bulls might make another attempt at the price of $1.50. A breakout above $1.60 may lead to a surge up to levels of $1.75 and $1.80.

Failure to remain at present levels, however, can open the door to renewed selling pressure. Traders will likely monitor support at $1.40 for short-term direction.