Pro-crypto US attorney Jeremy Hogan predicts the Ripple vs. SEC legal battle may conclude before an XRP ETF approval, a scenario markets are increasingly betting on. This follows Nasdaq's recent request to the SEC for listing the CoinShares XRP ETF. Ripple’s native token has risen 2.8% in the last 24 hours, with a 7% gain over three days, reaching above $2.47.
Ripple vs. SEC: Could a Settlement Be Near?
Ripple’s legal clash with the SEC began in December 2020, when the agency accused Ripple of conducting an unregistered securities offering via XRP sales. A pivotal ruling in July 2023 by Judge Analisa Torres determined that XRP sales did not inherently qualify as securities offerings. Later, in 2024, the court imposed a $125 million penalty on Ripple for institutional sales—far below the SEC’s initial $2 billion demand.
While Ripple seemed prepared to settle, the SEC’s appeal has prolonged the case. Attorney Jeremy Hogan suggests a resolution may precede an XRP ETF approval, citing procedural delays in ETF finalization.
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Market Sentiment and ETF Approval Odds
Several firms, including Grayscale, WisdomTree, and CoinShares, have filed for XRP ETFs. Bloomberg analyst Eric Balchunas estimates a 65% chance of approval by 2025, though Litecoin, Dogecoin, and Solana ETFs are viewed as more likely. Polymarket traders assign an 81% probability to a 2025 XRP ETF approval, but only 44% believe it will happen by July 2025, reflecting uncertainty tied to the SEC case.
XRP Price Analysis: Bullish Signals with Key Resistance Levels
XRP’s technical indicators show cautious optimism:
- Support: $2.40 (aligned with VWAP)
- Resistance: $2.55 (Donchian Channels), followed by $2.77 (0.618 Fibonacci retracement).
- A breakout above $2.77 could target $3.08, while failure may retest $2.47 or $2.23.
Key Metrics:
- RSI: 62.54 (neutral momentum)
- MACD: Slight bullish crossover (+0.01)
- 50-day MA: $2.44 (potential pivot)
FAQ Section
Q: What triggered XRP’s recent price increase?
A: Optimism around a potential Ripple-SEC settlement and ETF approval prospects drove bullish momentum.
Q: When could an XRP ETF be approved?
A: Analysts like Eric Balchunas estimate a 65% chance by 2025, though delays from the SEC case may impact timing.
Q: What are the key price levels to watch for XRP?
A: $2.55 (immediate resistance), $2.77 (Fibonacci level), and $3.08 (next target if bullish).
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Disclaimer: This content is for informational purposes only. Past performance does not guarantee future results.