XRP Showdown: Ripple Verdict Looms as Prices Dip—Is This the Calm Before the Storm?
The crypto courtroom drama reaches its climax—XRP holders brace for impact as Ripple's legal fate hangs by a thread.
Market jitters hit XRP
Investors are dumping bags ahead of the ruling, proving once again that crypto traders would sell their grandmothers for a 2% swing. The 'buy the rumor, sell the news' playbook gets another chapter.
Regulatory reckoning incoming
Whatever the verdict, this decision will send shockwaves through crypto exchanges—either validating XRP's status or triggering another 'not a security' existential crisis. SEC Chair Gary Gensler probably has popcorn ready.
Make or break moment
XRP's chart looks like a EKG flatline—but we all know crypto loves nothing more than violent moves on binary events. Buckle up for volatility that'll make your leverage positions cry.
SEC vs. Ripple: XRP Braces for Settlement Ruling
It could be a crucial start to the week for Ripple, XRP, and the broader crypto market. The SEC vs. Ripple case will take center stage as investors await Judge Torres’ ruling on the proposed settlement terms. Ripple and the SEC filed a second joint motion on June 12, requesting an indicative ruling on vacating the injunction prohibiting XRP sales to institutional investors and reducing the penalty to $50 million.
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What If Judge Torres Rejects the Second Filing?
Pro-crypto lawyer Bill Morgan recently remarked on the parties’ appeals, stating:
“It seems likely to me that had the SEC not filed an appeal of the summary judgment decision of Judge Torres, that Ripple WOULD not have filed an appeal on the institutional sales part of the summary judgment decision (although we cannot be sure) and the parties would have just moved on based on the summary judgment and the final orders that were made by Judge Torres.”
Morgan concluded:
“The SEC’s new policy towards enforcement has encouraged Ripple to seek more than it would have been satisfied with or lived with before the SEC filed its appeal.”
Considering the SEC’s new approach to crypto, would Ripple progress with its cross-appeal if Judge Torres rejects the second filing?
Legal rulings have greater weight than a handshake. The SEC and Ripple could agree that the agency would no longer pursue breaches of US securities laws for XRP sales to
institutional investors or through programmatic sales. However, things could change if the Democrats win the next Presidential Election and resume its war against crypto, potentially leading to fresh lawsuits.
Mismatch: Legal Limbo and XRP-Spot ETF Approval Odds
Despite XRP’s legal limbo, Polymarket puts the odds of a 2025 XRP-spot ETF approval at 88%. This is what happened to Bitcoin (BTC) when the SEC approved BTC-spot ETF applications:
While an XRP-spot ETF market could send the token to record highs, one ETF issuer could be crucial to the success of a spot ETF market. Since launch, BlackRock’s (BLK) iShares bitcoin Trust (IBIT) has recorded total net inflows of $50,998 million versus the US BTC-spot ETF market’s total net inflows of $46,637 million.
BlackRock has been silent on plans for an XRP-spot ETF since November 2023. A fake iShares XRP-spot ETF Trust filing triggered a pump-and-dump rally, potentially delaying application plans until resolution of the Ripple case.
XRP Price Outlook: Court Rulings and ETF News
XRP fell 2.05% on Sunday, June 22, following Saturday’s 2.67% loss, closing at $2.0212. The token underperformed the broader market, which dropped 1.42% to a total crypto market cap of $3.06 trillion. Investor anxiety about Judge Torres’ looming decision left the XRP with heavier losses.
The near-term xrp price trajectory hinges on Judge Torres’ ruling, the parties’ appeal plans, and XRP-spot ETF developments.
A breakout above $2.1 could pave the way to the 200-day Exponential Moving Average (EMA). A sustained MOVE through the 200-day EMA may bring the 50-day EMA into play. Conversely, a drop below the $1.9299 support level could expose $1.8.
What to watch
Investors should pay attention to the ruling in the Ripple case, trade news, and ETF fund flows. These factors are critical to price action. They may determine whether XRP or BTC can return to all-time highs.
