$XRP
XRP News Today: Appeal Delay Threatens XRP ETF Timeline and Momentum
Key Points:
XRP rose 0.33% on Saturday but remains below its July 18 all-time high of $3.6606 amid SEC-related uncertainty.
The SEC’s silence on its Ripple appeal dims hopes for swift XRP-spot ETF approvals and caps near-term gains.
Former SEC lawyer Fagel suggests it may take 1–2 months for a formal vote on dismissing the Ripple appeal.
SEC Appeal Silence Challenges Market Optimism
The SEC’s silence in the ongoing Ripple case sank hopes for swift XRP-spot ETF approvals, capping XRP gains. The token rose 0.33% on Saturday, July 19, partially reversing Friday’s 2.04% loss to close at $3.4264. Despite the recovery, XRP fell short of Friday’s record high of $3.6606. XRP tracked the broader crypto market, which rose 0.31%, lifting the total crypto market cap to $3.81 trillion.
XRP Price Outlook: SEC Appeal Developments and ETF News
The near-term XRP price trajectory hinges on the SEC’s appeal vote and XRP-spot ETF-related updates. If the SEC withdraws its appeal, XRP could break above the all-time high of $3.6606, with ETF approval potentially driving the token toward $5. However, the SEC’s silence on its appeal could pressure XRP demand.
Daily Chart
XRP trades well above the 50-day and the 200-day Exponential Moving Averages (EMA), affirming bullish momentum.
On the upside, a breakout above the July 18 high of $3.6606 could signal a move toward $4. Sustained buying pressure may pave the way toward $5.
On the downside, a drop below $3.3 could enable the bears to target sub-$3 levels.
The 14-day Relative Strength Index (RSI) sits at 81.89, indicating that XRP is in overbought territory (RSI > 70). Selling pressure may intensify at the July 18 high of $3.6606.
