Quick overview

Live XRP/USD Chart

---

XRP has fallen 5% over the last three days, indicating a downward trend for the remittance token. The token is currently valued at less than $2, with SEC delays and conflict in the Middle East weighing on the asset.

Geopolitical uncertainty weighed on the digital asset after President Donald Trump demanded Iran’s “unconditional surrender” on Tuesday, as the sixth day of the Iran-Israel air war began.

According to three officials, the US military is increasing the number of fighter planes sent to the area to strengthen its forces.

The bearish configuration of the digital asset’s Exponential Moving Averages (EMAs) suggests downward momentum remains, as the short-term lines are positioned below the long-term ones.

If XRP can initiate an upward trajectory and break through the crucial resistance level at $2.25, the next target of $2.3 may become attainable.

The Securities and Exchange Commission (SEC) recently filed a status report in the Ripple v. SEC case, requesting the appeals court to hold the appeals. An earlier order to hold appeals preceded the filing of the status report following a settlement between the parties in the XRP lawsuit.

 Attorney James K. Filan disclosed that the SEC had asked the US Court of Appeals for the Second Circuit to pause appeals, given the district court’s ongoing motion for an indicative ruling.

The long-running lawsuit will now face further delay from the SEC’s filing of a second status report in the 2 nd Circuit by August 15.  Attorneys expect to hear from Judge Analisa Torres regarding the parties’ request to lift the injunction and reduce the fine to $50 million.

Ripple and the SEC extended their indicative ruling on June 12 to lift the injunction in the Final Judgment and release $50 million from the $125 million civil penalty imposed in the case.

The SEC’s changing position on crypto assets, settlement agreements, and the desire to prevent additional litigation are all grounds for amending a final judgment under Rule 60.

Legal expert Sherrie stated that Judge Torres’s response to the new Indicative Ruling under Rule 60 will influence how swiftly the XRP lawsuit is resolved. ” We might hear back next week, or we might hear back this Thursday,” she continued.