XRP is back in the news after a surprise ruling on May 16 that denied both the SEC and Ripple’s joint motion to lift the institutional sales injunction and reduce penalties. Judge Analisa Torres won’t issue an indicative ruling, so both sides will have to do more than just agree between themselves—the court wants a good reason to reverse its previous position.
The crypto markets were shocked and XRP’s regulatory status is once again uncertain. Analyst Eleanor Terrett said Judge Torres “isn’t letting them walk away easily” while attorney John Deaton said the court wants a credible argument that serves both public and institutional interests.
Deaton also said a revised motion could be approved eventually—but not for months.
Ripple’s path forward is to continue its cross-appeal while the SEC may still appeal the programmatic sales ruling. With the June 16 court deadline for a settlement update looming, this drama is far from over.
XRP Outlook: Settlement, Appeals, or Supreme Court?
This case can still go three ways: full settlement, appeals to the U.S. Court of Appeals or Supreme Court. A Supreme Court ruling would set a precedent not just for XRP but the entire crypto market.
The concern for XRP bulls is timing. A long court battle or worse an SEC win on appeal could delay or kill future XRP-spot ETF approvals in the U.S. which previously boosted optimism in July 2023. With the SEC getting more aggressive in crypto enforcement XRP’s legal future is tied to Washington’s evolving stance on digital assets.
But the core issue now is credibility. Will Ripple insist a settlement is required to withdraw its cross-appeal? If so and the SEC doesn’t play ball the case could spiral into another multi-year battle.
XRP Technical Setup: Breakout at $2.44
Despite the legal woes XRP has shown technical strength. After holding above $2.314 it broke out of the descending channel and is now at $2.40.
The 50-period EMA at $2.382 has flipped to support—a bullish sign.MACD has crossed below zero with green histogram bars, indicating increasing upside momentum.
XRP Technical Setup: Breakout at $2.44 – Source: TradingviewThe candlestick pattern is also improving with a bullish engulfing candle followed by consolidation, buyers are absorbing selling pressure.
Entry: On breakout above $2.440 Targets: $2.504 and $2.568 Stop-loss: Below $2.369For new traders: XRP just climbed out of a price slide. Now it’s resting on a ledge. If it can get above $2.44 it could start to rally.
Conclusion
XRP is walking a tightrope—legally and technically. But for now bulls have short-term control, making XRP price prediction bullish. A confirmed move above $2.44 could be the trigger that gets it to $2.56 even as the legal battles continue.
BTC Bull Token Nears $6.84M Cap as 71% Staking Yield Drives Demand
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Key Stats:
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The post XRP Price Prediction: XRP at $2.40 Shows Multiple Buy Signals as Bulls Defend Critical Support Zone—What’s Next? appeared first on Cryptonews.
