The XRP community received good news this week when Ripple announced it would drop its appeal in the ongoing court battle with the SEC.
Ripple's Announcement on Dropping Appeal
Ripple has decided to drop its appeals in its long-running court battle with the U.S. Securities and Exchange Commission (SEC). CEO Brad Garlinghouse made the announcement on social media on June 27. He also revealed that the SEC is expected to drop its own appeal soon.
XRP Price Update
Following the news, XRP's price showed a small recovery; however, it still remains in a bearish trend. This indicates that the price has been making lower highs and lower lows over time.
Key Support and Resistance Levels for XRP
Important support levels for XRP are found between $2.25 and $2.21. If XRP falls below this, the next major support is between $1.92 and $1.95. Resistance levels are at around $2.19 and $2.20, with further hurdles at $2.25 and between $2.30 and $2.35.
The conclusion of the legal dispute between Ripple and the SEC may impact the future of XRP, but current trends suggest a bearish market.
