XRP News Today: Legal Developments, Market Trends, and Price Outlook

Ripple's XRP continues to dominate headlines as legal battles, market trends, and price movements shape the future of this cross-border remittance token. Investors are closely monitoring developments in the SEC vs. Ripple case, ETF approvals, and macroeconomic factors that influence XRP's trajectory.

The ongoing legal battle between Ripple and the SEC remains a pivotal factor for XRP's price and market sentiment. Recent court filings have reignited uncertainty, with Judge Analisa Torres denying the SEC's request for an indicative ruling on settlement terms. This decision has delayed a potential resolution, leaving investors in limbo.

Ripple and the SEC had proposed terms to vacate the injunction prohibiting XRP sales to institutional investors and reduce the $125 million penalty. However, the SEC's silence ahead of the June 16 deadline has cast doubt on a summer resolution. If the settlement terms are not approved, Ripple may proceed with its cross-appeal while the SEC continues its own.

Speculation around XRP-spot ETFs has added another layer of complexity to market sentiment. Bloomberg Intelligence analysts suggest an active summer for altcoin-spot ETFs, with Solana leading the way. However, XRP's odds of ETF approval stand at 85%, lower than other altcoins like Litecoin and Solana.

The SEC's stance on cryptocurrencies has shifted following the departure of former Chair Gary Gensler, boosting hopes for broader altcoin ETF markets. Despite this optimism, XRP's near-term outlook remains tied to legal developments and ETF-related headlines.

XRP is currently trading at $2.28, up 2.4% in the past 24 hours. The token has struggled to break past the $3 mark, a level it has been unable to surpass since February. Analysts view the $2 zone as a potential base for a larger move when market conditions improve.

Crypto analyst JD has identified a hidden bullish divergence on the Stochastic RSI indicator, reminiscent of XRP's 2017–2018 market cycle. This signal suggests a potential 20x surge, with projections of XRP reaching double-digit prices around $17. However, caution is advised, as historical patterns indicate a sharp reversal could follow, potentially leading to a 90% crash.

XRP's price action remains tied to key technical indicators. A break above $2.35 could signal a move toward $2.5 and the May 12 high of $2.6553. Conversely, a drop below the 50-day EMA could bring the 200-day EMA and the $1.9299 support level into play.

Macroeconomic events, such as the U.S. Federal Reserve's interest rate decisions, play a significant role in shaping crypto markets. A rising U.S. M2 money supply, currently at $21.86 trillion, has increased liquidity, driving demand for risk assets like XRP. However, inflation and potential rate hikes could reverse this momentum.

Ripple's recent transfer of $498 million worth of XRP tokens to an unknown wallet has puzzled the community. This move, coupled with the unlocking of one billion XRP tokens earlier this month, has raised concerns about increased selling pressure. At press time, XRP is trading at $2.25, down 0.17% over the past 24 hours.

While XRP shows resilience above the $2 level, investors should remain cautious. Legal uncertainties, ETF approval odds, and macroeconomic factors could significantly impact XRP's price trajectory. Monitoring court filings, ETF developments, and market trends will be crucial for informed decision-making.

The SEC and Ripple are pursuing settlement terms, but Judge Torres recently denied the SEC's request for an indicative ruling, delaying a resolution.

XRP's odds of ETF approval stand at 85%, lower than other altcoins like Litecoin and Solana.

Key levels include $2.35 for upward momentum and $1.9299 as a critical support level.

A rising M2 money supply increases liquidity, driving demand for risk assets like XRP. However, inflation and rate hikes could reverse this trend.

Legal uncertainties, potential ETF rejections, and macroeconomic factors pose risks to XRP's price stability and investor sentiment.