Ripple (XRP) and the U.S. Securities and Exchange Commission's (SEC) long-standing legal dispute is finally approaching its conclusion. Both parties recently agreed to temporarily suspend the appeal process, suggesting that a final settlement is imminent. XRP is likely to break free from years of regulatory uncertainty and potentially enter the mainstream market with a price rebound.
On June 16th, Ripple and the SEC jointly requested a halt to the appeal, which is expected to lift the imposed injunction and significantly reduce the fine to $50 million (approximately 69.5 billion won). This is essentially viewed as a 'victory' for Ripple, and institutional investors are taking note. The next official update is scheduled for August 15th, and if the court confirms XRP's 'non-security' status at that time, it could lead to an influx of previously suppressed institutional funds.
Simultaneously, expectations for an XRP spot ETF are rising. The XRP ETF, currently in the public hearing stage, is estimated to have a 91% approval probability on the predictive market Polymarket. Bloomberg analysts James Seyffart and Eric Balchunas have raised the approval likelihood to 95%. This is a strong signal that XRP is prepared to be incorporated into mainstream financial products, following Bitcoin (BTC) and Ethereum (ETH).
Technical analysis also suggests a high potential for XRP's rise. Cryptocurrency analyst Dark Defender diagnosed that XRP is still within a bullish wave (Wave 5) and firmly maintaining its key support line of $1.88. Meanwhile, EGRAG Crypto stated that XRP is reproducing patterns from previous upward cycles, testing $1.61 after adjusting from its previous high of $3.40. According to his analysis, XRP could potentially rise to $11.50, $27, and up to $42 in this rally.
Currently trading at $2.02, there is growing speculation that if historical third-quarter strength patterns repeat, a significant price rebound could begin in July. The resolution of the Ripple-SEC lawsuit is viewed as a meaningful turning point that could dramatically impact the cryptocurrency market as a whole.
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