Ripple & the SEC filed a renewed motion on June 12, seeking to lift the XRP sales ban & reduce the $125M fine.
A favorable ruling by Judge Torres could prompt both parties to withdraw their appeals & boost XRP-spot ETF hopes.
Bill Morgan warns a quick ruling could signal another rejection, citing the previous seven-day turnaround.
XRP Price Outlook: Court Rulings & ETF News
XRP dropped 0.20% on Thursday, June 19, partially reversing Wednesday’s 0.48% gain to close at $2.1666. The token tracked the broader market, which fell 0.18% to a total crypto market cap of $3.21 trillion.
The near-term XRP price outlook depends on Judge Torres’ ruling and XRP-spot ETF-related news.
A breakout above $2.2 & the 50-day Exponential Moving Average (EMA) could pave the way to the June 16 high of $2.3376. A sustained move through $2.3376 may open the door to retesting $2.50 & the May 12 high of $2.6553. However, a break below the 200-day EMA could expose the $1.9299 support level.$XRP
