XRP Price: Buying Ripple Ahead of Next Monday’s SEC Deadline?
Ripple's XRP is gaining traction as institutional demand increases and traders brace for a key legal milestone with the SEC next week.
Quick overview
- Ripple's XRP is gaining momentum as institutional interest increases and a key SEC legal update approaches on June 16.
- The SEC's upcoming settlement status report could lead to a favorable resolution, potentially removing legal hurdles for XRP's price.
- XRP has shown resilience, bouncing off key support levels and recently surging over 10% ahead of the SEC deadline.
- Growing institutional demand and positive market sentiment may further boost XRP's prospects for a breakout.
Live XRP/USD Chart
Ripple’s XRP is gaining traction as institutional demand increases and traders brace for a key legal milestone with the SEC next week.
Regulatory Countdown: June 16 Could Be a Turning Point
Ripple’s long-standing legal saga with the U.S. Securities and Exchange Commission (SEC) is approaching a crucial inflection point. By June 16, the SEC is required to submit a settlement status update, as ordered by the U.S. Court of Appeals in April. This follows a joint request to pause the appeal process and engage in settlement negotiations—a move that temporarily froze the SEC’s challenge to a prior ruling on XRP’s programmatic sales.
If the upcoming report hints at a favorable resolution, it could prompt both sides to drop their respective appeals, removing a major legal overhang on XRP’s price.
From Collapse to Recovery: XRP’s Technical Journey
After peaking near $3.40 in November 2024, XRP endured a sharp decline, shedding about half its value and bottoming near $1.65 in April 2025. Interestingly, that level coincides with a major resistance zone from 2021, which has since turned into a key structural support.
Over the past several weeks, XRP has tested the $2.00 level multiple times but has not closed below it on a weekly basis—suggesting the base is solidifying. Last week, the price bounced off $2.05 and formed a doji candlestick pattern on the weekly chart, often interpreted as a signal of potential bullish reversal.
This week, the token surged over 10%, reaching $2.30 ahead of the SEC’s deadline, reigniting hopes of a broader breakout.
Price Outlook: Support Clusters and Breakout Levels
XRP now trades within a rising wedge supported by three ascending technical floors:
- $1.63 (April low)
- $1.90 (early May floor)
- $2.05 (mid-May and last week’s bounce point)
On the upside, resistance comes into view at the 20-week simple moving average (SMA), currently just above $2.50, which recently capped a rally attempt. Should that level give way, XRP may retest the May high of $2.65, followed by key psychological and historical resistance levels at $3.00, $3.40 (the all-time high), and potentially $5 or even $10 in a highly bullish scenario.
Institutional Backing and Market Confidence
XRP’s resilience is further supported by a surge in institutional demand and futures activity. The growing inclusion of XRP in institutional portfolios and derivative platforms has helped stabilize its market structure and improve liquidity—factors that could amplify gains in the event of a favorable SEC update.
These developments come at a time when broader crypto sentiment is on the rise. As Bitcoin trades near $100,000 and draws media attention, altcoins like XRP may benefit from a rising tide—especially those backed by improving legal clarity and technical structure.
Final Thoughts
With the legal cloud potentially lifting, strong support levels intact, and renewed investor interest, XRP looks ready to resume its upward march. The June 16 SEC report could serve as the catalyst that shifts XRP from a consolidation phase to a full-fledged breakout.
Ripple XRP Live Chart
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals