XRPcoin (XRP) price prediction: Enhanced sentiment for settlement with SEC, traders follow $2.65

Gate News, as optimism grows over Judge accomplice's approval of the modified settlement motion between the United States Securities and Exchange Commission (SEC) and XRP (Ripple), XRPcoin (XRP) has experienced a pump. Ripple has agreed to waive the cross-appeal, which may pave the way for the resumption of institutional XRP sales. A favorable ruling could mitigate legal risks supporting the approval of the pending XRP Spot ETF application.

On Tuesday, the market's focus returned to the SEC's lawsuit against Ripple, as investors awaited Judge Analisa Torres's crucial ruling on the proposed settlement terms. The market's optimistic sentiment towards a favorable ruling on the settlement terms has boosted demand for XRP, and the market is recovering from the sell-off triggered by the Middle East conflict.

On June 12, the SEC and Ripple filed a second joint motion seeking a declaratory judgment on settlement terms. Ripple agreed to reduce the fine to $50 million if Judge Torres lifts the ban on selling XRP to institutional investors. Ripple will withdraw its interlocutory appeal, and the SEC will also withdraw its appeal.

However, Judge Torres rejected the first application in May, shaking the market's optimism. Judge Reyes, an accomplice, pointed out that the first application had procedural errors and its arguments were insufficient to prove that the settlement agreement would benefit institutional investors and the public. Although the second application addressed procedural errors, the legal community believes that the second application did not meet the expectations of Judge Reyes, an accomplice. On June 17, Ripple submitted a supplemental letter to support its arguments for approving the settlement terms.

Despite the optimistic sentiment, XRP remains below the May high of $2.6553, set before Judge Netburn denied the first consolidated motion, indicating legal uncertainties.

This week, Bill Morgan, a lawyer supporting cryptocurrency, speculated on the final judgment of the XRP case, which is expected to be made at the end of 2026. He stated, 'Unless Judge Torres rejects the latest joint motion, this scenario is unlikely to occur. Unless the judge makes a common-sense decision to accept a summary judgment, current penalties, and a permanent injunction, the settlement process will be completely interrupted, and both parties will appeal. This is unlikely to happen.'

Will SEC appeal destroy the hope of XRP ETF?

For ETF issuers awaiting the XRPSpotETF application, the SEC's withdrawal of the appeal could be crucial. If the SEC successfully appeals the programmatic sales ruling, XRP will be classified as a security in secondary sales.

In the worst case, the exchange may delist the accomplice coin, and the SEC may also reject the pending Spot ETF application. This situation could potentially lead to XRP being in a predicament, as the SEC may approve other cryptocurrency coin Spot ETFs, such as Solana Spot ETF.

After Judge Torres ruled that XRP's programmatic sales did not satisfy the third prong of the Howey test, the exchange relisted XRP.

The US Securities and Exchange Commission uses the Howey test to determine which assets are subject to the jurisdiction of US securities laws. The test includes three aspects: investment of money, common enterprise, and expectation of profits solely from the efforts of others.

XRP price outlook: court ruling and ETF news

FXEmpire analyst Bob Mason said that XRP outperformed the overall cryptocurrency market, with the overall cryptocurrency market pumping by 0.83%, bringing the total market value of cryptocurrencies to $32.3 trillion.

The recent price trend of XRP depends on Judge Torres's settlement ruling, SEC's appeal plan, and XRP Spot ETF related news.

Breaking above the 50-day Exponential Moving Average (EMA) may pave the way for June 16th high of $2.3389. Continuously surpassing $2.3389 may open the door to retest the May high of $2.6553.

On the contrary, breaking below the 200-day moving average may touch the support level of $1.9299.

(Source: FXEmpire)