1. Notable progress in legal cases ⚖️
Ripple announced that it will withdraw its cross-appeal against the U.S. Securities and Exchange Commission (SEC), and the commission is expected to withdraw it as well, which is considered a significant step toward ending the long dispute.
On June 26, Judge Analisa Torres rejected the joint settlement request to lift the permanent injunction and reduce the fine to $50 million, asserting that "they do not have the authority to ignore the final judgment".
2. Significant movement in SBI's portfolio
Ripple partner SBI VC Trade transferred about 320 million XRP (worth approximately $703 million) to different addresses before the monthly lockup, raising speculation about a plan for significant upcoming movements.
3. Anticipated recovery forecast
The SEC's closed meeting scheduled for July 3 may include a vote to withdraw the appeal, and legal experts believe it will not require prior court approval.
Market analyses indicate that the success of this vote could pave the way for a new bullish trend and further discussions about the launch of ETFs for XRP.
4. Technical analyses and market responses
XRP currently faces strong resistance between $2.20 and $2.30, requiring a daily breakthrough above $2.30 to regain bullish momentum toward the $3 level.
Institutional investment funds entered about $10.6 million into XRP products last week, with 'open futures options' rising to more than $4 billion, reflecting increased institutional interest.
Technological experts indicated that the launch of an Ethereum-compatible sidechain on the XRP Ledger could drive the price up by about 10%, targeting the $2.44 level.
