The recent lack of updates on the SEC vs Ripple case has been cited as a factor in the slight decrease in XRP price. However, the outcome of the pending court ruling in the SEC vs. Ripple case, the ongoing legal battle between the SEC and Coinbase, and other variables could potentially impact the price in the future.
XRP has dipped below $0.53, currently trading at $0.52 after a 0.67% drop in the last 24 hours and a 3.5% decrease in the last 30 days. Analysts attribute this lack of movement to the absence of new information on the SEC vs. Ripple case but anticipate changes as investors await the court ruling on Ripple’s Motion to Seal. This ruling will determine the penalty Ripple faces for violating US securities laws.
The SEC initially proposed a nearly $2 billion penalty and a sales injunction on XRP to institutional investors, a proposal vehemently opposed by Ripple, who argued for a much lower penalty of around $10 million.
The market is eagerly anticipating a verdict in the summer, with the SEC potentially appealing the Programmatic Sales of XRP ruling. Furthermore, the XRP community is closely watching the Empower Oversight lawsuit against the SEC, which could influence the price based on the outcome of the investigation into alleged conflicts of interest within the SEC.
In addition, the pro-crypto stance of former US President Donald Trump, along with potential changes in leadership at the SEC, could impact the regulatory landscape for XRP. A positive outcome in the SEC vs. Coinbase case, including a potential appeal against the Motion to Dismiss ruling, could also affect XRP’s price trajectory.
Currently, XRP is trading below key EMAs but a move above the 200-day EMA could indicate a potential breach of the $0.5739 resistance level. Conversely, a move below trend lines could push the price down to $0.48, as analyzed by Crypto News Flash. Overall, the market is eagerly anticipating regulatory clarity, which could pave the way for an XRP ETF and further market evolution.