The XRP price has experienced a slight decline due to the lack of recent SEC vs Ripple news. Despite this, future factors such as the pending ruling on the SEC vs. Ripple case and the SEC vs Coinbase legal battle could impact the price. XRP is currently trading at $0.52, slipping below $0.53 after a 0.67% drop in the last 24 hours and a 3.5% decrease in the last 30 days.
Analysts attribute the stagnant movement in price to the absence of updates on the SEC vs. Ripple case. However, this could change as investors eagerly await the court ruling on Ripple’s Motion to Seal and the subsequent penalty for violating US securities laws. The SEC had initially proposed a $2 billion penalty and an injunction on XRP sales to institutional investors, but Ripple contested this, advocating for a lower penalty of $10 million.
The outcome of the case is anticipated in the summer, with the SEC potentially appealing against the Programmatic Sales of XRP ruling. Additionally, the XRP community is closely watching the Empower Oversight lawsuit against the SEC, which could influence the price if evidence of a conflict of interest involving the SEC is revealed.
The pro-crypto stance of former US President Donald Trump and the decision on the SEC vs Coinbase case are also significant factors to consider. A Republican victory in the US election could benefit crypto, and a positive outcome for Coinbase in its legal battle against the SEC may pave the way for regulatory clarity and a potential bull run for XRP. Ripple’s president has expressed confidence in the possibility of an XRP ETF in the near future with a favorable court ruling.
Currently, XRP is trading below the 50-day and 200-day EMAs, with a potential breach of the $0.5739 resistance level if it moves above the 200-day EMA. Conversely, a drop below the trend lines could see the price fall to $0.48. Stay tuned for more updates on Ripple (XRP) news and developments.