The legal confrontation between Ripple and the U.S. Securities and Exchange Commission (SEC) remains tense as they near a crucial deadline for a status report, with no confirmation regarding its submission. Observers expect significant updates today, June 16, 2025, but delays may extend to the 19th or even August. Meanwhile, XRP's price has seen a significant uptick, rising by around 7% in the last 24 hours. This gain reflects an overall improvement in market sentiment, similar to trends seen in Bitcoin, Ethereum, and other leading cryptocurrencies. Currently, XRP is trading at $2.31, oscillating between support at approximately $2.10 to $2.25 and resistance at $2.31 to $2.36. While a possible head and shoulders pattern indicates potential bearish trends if XRP dips below $2.25, any upward movement could be influenced by Bitcoin's performance. The market remains cautious, awaiting clearer developments.
Ripple vs SEC Update: XRP Surges 13% as Deadline Approaches
As the Ripple and SEC lawsuit progresses, XRP sees a 13% rise despite ongoing legal uncertainties and a significant deadline nearing.
Jamie Bennett
Crypto Analyst
4 min read
23,962
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 8/10
Trading Recommendation
XRP
XRP
BUY
Entry Price
$2.31
Confidence
80%
Stop Loss
$2.25
Take Profit
$2.36 - $2.4
With a recent gain in price and positive market sentiment, entering a long position on XRP appears favorable despite potential bearish patterns.
