XRP News: SEC Lawsuit Continues to Weigh on XRP Price, Community Awaits Resolution

The ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs has continued to cast a shadow over the future of XRP, the cryptocurrency associated with the company. In this summary, we explore the latest developments in the case and its impact on XRP`s price, as well as the broader implications for the crypto market.

SEC vs Ripple Case Continues, XRP Declines

The SEC vs Ripple case remains unresolved as the crypto market experiences losses. XRP has dropped nearly 15% since the beginning of the week, stretching its decline. Community members anticipate the end of the SEC`s multi-year lawsuit against Ripple amid a growing dismissal of legal cases against crypto companies. Trump`s tariff threats have also contributed to double-digit losses across top cryptocurrencies, including XRP, which declined toward the $2 level on Wednesday. Despite this, XRP could potentially bounce back from the $2.18 support level to tackle a descending triangle`s resistance.

XRP Bears Resurface—Key Levels to Watch Now

XRP price has started a fresh decline below the $2.450 and $2.350 support levels. The price is consolidating losses and remains at risk of further declines. It has dipped below the $2.320 and the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance at $2.250 on the hourly chart. The pair might continue to move down unless there is a close above the $2.3350 resistance zone. XRP failed to recover above the $2.50 resistance and moved below $2.35, $2.250, and even $2.20 support levels, forming a low at $2.0639.

Ripple (XRP) Announces Major Partnership Deal With South Korea

Ripple, the firm behind XRP, has announced a partnership with BDACS, a prominent digital asset institutional custody firm in South Korea. The collaboration aims to expand South Korea’s institutional custody market and open up new commercial and technological prospects. The deal is expected to further boost the presence of XRP in the country. However, it is unclear if the partnership has impacted the price of the altcoin.

XRP Indicator Forms New Signal

An analyst has pointed out how the Tom Demark (TD) Sequential has once again formed a signal on the 2-week price chart of XRP. The TD Sequential is a technical analysis indicator used for finding probable locations of reversal in any asset`s chart. It involves two phases: setup and countdown. Recently, the indicator has formed a new signal on XRP`s biweekly price chart, suggesting a potential turnaround.