XRP News: Former SEC Employee Predicts Possible Pause in Ripple v. SEC Lawsuit

A former SEC employee predicts a potential pause in the Ripple v. SEC lawsuit, suggesting a possible conclusion before the approval of a spot XRP ETF. Meanwhile, XRP faces a potential price correction.

Ripple v. SEC Lawsuit: Possible Pause Predicted by Former SEC Employee

Former SEC employee John Reed Stark predicts the Commission may soon pause the Ripple appeal, citing recent agreements and internal changes at the regulator. Attorney Jeremy Hogan speculates that the legal battle against Ripple may conclude before a spot XRP ETF is approved, with investment products like a spot XRP ETF already in preparation by firms like Grayscale and Bitwise.

XRP Faces Potential Price Correction as TD Sequential Signals Sell

The cryptocurrency market may encounter turbulence for XRP, as a significant technical indicator, the TD Sequential, suggests a likely price correction. This widely respected tool for predicting market reversals has issued a sell signal on XRP’s daily chart, hinting that the digital asset’s recent upward momentum could soon face a setback. Crypto Analyst Ali Martinez notes that while XRP has enjoyed a strong upward trend recently, the appearance of this sell signal introduces an element of caution.

XRP Price Action Under Pressure, Whales Step in at $2.40 Support

XRP’s price action has been under pressure, indicating strong sell-side momentum. However, whales have stepped in to snap up the $2.40 dip, leading to a surge of 8% this week and a 40% jump in daily volume. The bulls are hungry, but it remains to be seen if XRP can break through to $3, or if there will be a pullback to shake out weak hands before the real rally begins. Active accounts on the XRP Ledger have dropped by 76% from election levels, pointing to massive profit-taking as weak hands exit the cycle. Despite this, XRP’s price chart shows signs of fresh accumulation at the crucial $2.40 support.

SEC Acknowledges Bitwise Spot XRP ETF Filing, Market Reacts

The Securities and Exchange Commission (SEC) has acknowledged the filing of a spot XRP ETF by Bitwise, following similar filings by Grayscale and 21Shares last week. This move is seen as a significant step, considering the SEC's ongoing legal battle with Ripple. Analysts and market traders believe this could potentially boost XRP's price, although the coin is currently down 3.8% and trading at $2.52. Meanwhile, the odds of an XRP ETF being approved by July 31, 2025, have dropped to 45% on Polymarket.