Ripple & the SEC jointly request relief to finalize a settlement and avoid cross appeals ahead of June 16.
The outcome of Judge Torres’ ruling could heavily influence the fate of a potential US XRP-spot ETF approval.
XRP’s price dropped 3.53% on June 12 as broader crypto markets reacted to geopolitical and legal pressures
SEC vs. Ripple Case: Parties File Crucial Joint Motion
The SEC vs. Ripple case took center stage on Thursday, June 12, with the June 16 Court of Appeals deadline fast approaching. US attorney James Filan shared a joint court filing, where both parties sought to settle Judge Analisa Torres’ Final Judgment ahead of the deadline.
Ripple & the SEC jointly renewed their request for an indicative ruling to lift the injunction prohibiting XRP sales to institutional investors and to reduce the $125 million penalty. The parties filed the request ahead of the US Court of Appeals’ June 16 deadline for a progress report on the settlement.
XRP Price Outlook: Court Rulings & ETF News
XRP slid 3.53% on Thursday, June 12, following Wednesday’s 1.53% loss to close at $2.1910. The sell-off tracked a broader crypto market decline, with total capitalization dropping 3.02% to $2.27 trillion.
Near-term XRP trends hinge on legal rulings & ETF-related headlines. A break above the 50-day EMA could open the door to retesting resistance at $2.50 & the May 12 high of $2.6553. Sustained momentum beyond this could lead the bulls to target $3 & the record high of $3.5505. Conversely, a break below the 200-day EMA risks exposing sub-$2 levels, with $1.9299 the next key support level.#Write2Earn $XRP
