XRP prices remain under pressure, dropping from a high of $2.6507 to $2.3426, as the ongoing SEC vs. Ripple lawsuit fuels market uncertainty ahead of a critical June 15 court deadline.
The U.S. Securities and Exchange Commission’s (SEC) failed attempt to amend Judge Analisa Torres’ final ruling has intensified focus on an upcoming closed-door SEC meeting on May 29, which could shape settlement prospects.
Meanwhile, Bitcoin (BTC) surged to $109,096, buoyed by President Donald Trump’s decision to delay 50% tariffs on EU goods until July 9, easing trade tensions.
Growing state-level support for strategic Bitcoin reserve legislation further bolsters BTC’s bullish momentum, highlighting contrasting dynamics in the crypto market.
SEC vs. Ripple: Legal Impasse Drives XRP Volatility
The SEC’s bid to modify Judge Torres’ August 2024 ruling, which imposed a $125 million penalty on Ripple and restricted XRP sales to institutional investors, was rejected on May 15 due to procedural errors.
XRP plummeted 5% post-ruling, hitting $2.2659 by May 25, reflecting investor unease over the stalled settlement. Real-time data shows XRP trading at $2.3426, up 0.57% on Sunday, underperforming the broader crypto market’s 0.95% gain.
The SEC’s closed-door meeting on May 29 is pivotal, as it may establish the quorum needed to restart talks. Pro-XRP attorney John Deaton emphasized that a settlement may hinge on the SEC conceding XRP’s commodity status, a contentious issue since the lawsuit began in December 2020 over Ripple’s alleged $1.3 billion in unregistered XRP sales.
Without progress, the court may push for resumed appeals or grant an extension, exposing XRP to further volatility.
Did You Know?
Bitcoin’s 2025 rally has been partly fueled by institutional adoption, with over $100 billion in inflows to Bitcoin ETFs since their approval, according to industry data.
XRP Price Outlook: Technical Levels in Focus
XRP’s near-term trajectory depends on court developments and potential XRP spot ETF approvals. Technical analysis indicates support at $2.26, with a break above the May 12 high of $2.6553 potentially driving XRP toward $3.00 or its all-time high of $3.5505.
A failure to hold $2.26 could see prices slide to the $2.19-$1.79 range, according to market analysts. Investor sentiment reflects cautious optimism, with some traders anticipating a breakout if settlement talks advance, while others warn of a bearish pullback if legal uncertainties persist.
The June 15 deadline, set after a 60-day appeal pause granted by the U.S. Court of Appeals, looms as a key catalyst.
ALSO READ | Trump's Tariff Threats Trigger $500M Crypto Market Meltdown as Bitcoin Dips to $108K
Bitcoin Gains on Tariff Delay and Legislative Push
Bitcoin climbed 1.15% on Sunday, reaching $109,096, after a rapid 1.65% surge following Trump’s announcement to delay EU tariffs, which eased fears of inflation-driven Federal Reserve tightening.
The crypto market cap rose to $3.37 trillion, reflecting broader bullish sentiment. State-level momentum for strategic Bitcoin reserves is also lifting BTC, with Texas, Arizona, and New Hampshire advancing bills to hold BTC as a hedge against economic instability.
Senator Cynthia Lummis’ reintroduced Bitcoin Act, proposing a U.S. purchase of one million BTC over five years with a 20-year hold, has gained traction, with real-time reports suggesting growing bipartisan support.
However, risks remain, including potential trade tensions or ETF outflows, which could push BTC below $100,000. A bullish scenario with favorable legislation and economic data could see BTC target $115,000, surpassing its record high of $112,912.
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