The Ripple community awaits a final decision in its case with the SEC, expected within 60 days. Nevertheless, XRP price has fallen by 35% since January.
Legal Milestones and Market Challenges for XRP
Ripple's long-standing legal battle with the SEC is nearing its conclusion, with a decision expected in the next 60 days. This has sparked expectations for an XRP ETF approval, boosting market confidence. However, XRP has experienced a 35% price drop since January 2025, marking one of the steepest declines among major cryptocurrencies.
Market Bets and $40 Million Withdrawals
Market sentiment has shifted with a bet on Polymarket showing that the chances of XRP hitting a new all-time high by July plummeted from almost 90% post-Trump inauguration to 4%. This marks the lowest confidence level recorded for the first half of 2025. Adding to the uncertainty, Whale Alert detected a large transaction involving 40 million XRP, valued at about $83.5 million. The funds were withdrawn from Bithumb and transferred to an anonymous wallet.
Peter Brandt's Grim Prediction
Renowned trader Peter Brandt expressed a bearish outlook for XRP, comparing its current speculative value to Beanie Babies and Pet Rocks, suggesting it has little intrinsic worth. CITE_W_A: "Your favorite Beanie Baby/Pet Rock crypto displays a classic complex H&S top. This could become bullish if $3.0 is exceeded; otherwise, expect a decline to $1.07," Brandt stated. His technical analysis indicates a price drop unless XRP can reclaim the $3 threshold.
The future of XRP remains uncertain. The anticipated resolution of the Ripple and SEC case could significantly impact the market, yet for now, prices continue to fall, raising concerns among investors and traders.
