Key Developments: The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has intensified amid speculation of a potential settlement. XRP’s price surged to $0.63 last week, driven by settlement rumors and discussions about an **XRP ETF**, though it has since stabilized around $0.60.
Former SEC Lawyer Expects Final Ruling Soon
Marc Fagel, a former SEC securities lawyer, dismissed settlement rumors, stating there’s no evidence of negotiations between Ripple and the SEC. He emphasized that a closed-door SEC meeting wouldn’t address settlements at this stage.
Fagel predicts Judge Torres will issue a final verdict on remedies within weeks, likely by early August. Other legal experts, including Bill Morgan and Fred Rispoli, share similar timelines for penalties resolution.
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XRP Price Trends and Market Activity
Despite a 25% rally last week, XRP’s price dipped 1.5% in the past 24 hours, trading at $0.60. Key metrics:
- Market Cap: $33.6B (-1.35%)
- 24-Hour Volume: $1.7B (-14.58%)
Derivatives data shows declining trader interest, with futures open interest dropping nearly 3% to $795.6M. However, exchanges like Bitget recorded a 4% OI increase.
Price Outlook and Catalysts
- A breakout above $0.65 resistance could propel XRP to $0.75.
- Upcoming events like the Ethereum ETF launch and Bitcoin Conference may influence momentum.
- Analysts anticipate a Ripple IPO and XRP ETF in late 2024–2025 if Ripple secures a favorable ruling.
FAQs
1. What’s the latest timeline for the Ripple-SEC case resolution?
Experts predict a final judgment on penalties by early August, with no settlement expected.
2. How has XRP’s price reacted to recent developments?
XRP hit $0.63 last week but retraced to $0.60 amid mixed market sentiment.
3. What are the key price levels to watch?
A sustained move above $0.65 could target $0.75, supported by bullish technical indicators.
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Sources & Disclosures:
- Price data from CoinGlass.
- Analysis based on public statements from legal and market experts.
- Not financial advice; conduct independent research before investing.