The legal battle between Ripple and the SEC is approaching a decisive stage that may significantly impact the future of XRP and its institutional acceptance.
Legal Status of XRP and Potential Settlement
The ongoing legal battle between Ripple and the SEC is nearing its conclusion. A ruling is expected from Judge Analisa Torres on August 15 to determine whether XRP is classified as a security. Both parties have signaled a possible settlement, having suspended their appeal process on June 16. While the ban on Ripple has been lifted, potential penalties have decreased to $50 million.
Growing Interest in XRP ETFs
With legal uncertainties potentially resolved, XRP may accelerate its acceptance in the institutional sphere. There is growing optimism surrounding applications for a spot XRP Exchange Traded Fund (ETF). The probability of approval stands at 91% on the forecasting platform Polymarket, while Bloomberg’s leading analysts estimate this likelihood at 95%.
Analysis of Historical Price Patterns of XRP
Analysts have identified significant historical patterns in XRP’s price movements. Analyst EGRAG Crypto suggests that XRP may be repeating a formation that previously triggered substantial rises. Currently trading around $2.02, XRP could ignite the spark for another major leap in July. Analyst Dark Defender notes that the altcoin maintains its position above the $1.88 support level, supporting the upward trend model.
The ongoing dispute between Ripple and the SEC could significantly influence XRP and its market position. The anticipated ETF approval and positive historical trends may provide a conducive environment for further price growth of this altcoin.
