XRP continues to demonstrate a bullish trend, nearing a key resistance level. Meanwhile, Ripple must finalize its legal dispute with the SEC.
XRP Movement Analysis
XRP is on the verge of a potential breakout, continuing in its fifth Elliott Wave. Analyst Morecryptoonl reports that the cryptocurrency is likely completing the fifth wave of its pattern. On the 1-hour Bitstamp chart, the bullish wave remains active at around $2.18. This movement follows a rebound from the $2.04 level, coinciding with the 50% Fibonacci retracement from wave 'C'. The current wave structure shows earlier waves (1) to (4) remain intact. The bullish scenario suggests XRP could reach $2.27–$2.29, the 223.60%–238.20% Fibonacci extension range. A breakout would confirm bullish continuation, while a rejection may threaten the wave’s integrity.
Ripple's SEC Case
Ripple Labs is taking steps to finalize its legal case with the U.S. Securities and Exchange Commission (SEC). On June 27, 2025, CEO Brad Garlinghouse announced that Ripple would drop its cross-appeal. This follows Judge Analisa Torres’s denial of a joint motion for an indicative ruling. Garlinghouse stated, "We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value." According to court statements, the SEC is also expected to withdraw its appeal, effectively ending the dispute. Judge Torres reaffirmed that the original 2023 ruling stands, with XRP not classified as a security in public markets, although institutional sales were violations under securities law.
Conclusion
Ripple agreed to a $125 million penalty. A permanent injunction now restricts the firm from institutional sales in the U.S. Stuart Alderoty, Ripple’s Chief Legal Officer, stated that the company chose to accept the decision and move forward. Ripple is now refocusing on developing its cross-border payment infrastructure and expanding global adoption.
In conclusion, XRP continues to progress under positive momentum, while Ripple addresses its legal issues with an emphasis on future growth and implementation.