Category: Crypto market

XRP broke through the $3 mark during the week’s second trading session. The altcoin moved higher after briefly hovering around this level. This psychological threshold remains well above at the time of writing. Ripple’s legal battle with the Securities and Exchange Commission remains the major catalyst for XRP’s price movement.

The case has now lasted for five years and remains unresolved. According to the SEC’s lawsuit, filed in December 2020, Ripple sold XRP through unregistered securities offerings. District Judge Analisa Torres decided in 2023 that Ripple’s institutional sales of XRP were securities. However, she found the hat exchanges’ programmatic sales were not. The judge also rejected a proposed settlement aimed at reducing fines and removing an injunction.

Ripple retracted its appeal in the case. Legal expert Bill Morgan states that the SEC is expected to update the appellate court by August 15, 2025, even though the agency is not required to take formal action.

This update could involve a withdrawal, a request for more time, or another procedural move. Despite its unresolved legal status, XRP remains a subject of ongoing attention. Market participants cite the 2023 decision as a source of some regulatory clarity.

Interest has also grown around the token’s use for international payments and speculation about a potential spot ETF.

Zack Rector, an analyst, predicts that XRP may hit $5 shortly and perhaps $15 in September.

This would indicate a 360 percent gain from the current $3 level, which is a notable but typical move in cryptocurrency markets. If XRP follows a modified 2017 fractal pattern, it may reach $9 by early September, according to James Crypto Space’s forecast. He points out that, according to previous market cycles, XRP has a history of sharp price increases that occur four to five weeks after breaking significant resistance.

The Securities and Exchange Commission’s (SEC) lawsuit against Ripple continues to attract much attention from the cryptocurrency community, which hopes that the lengthy XRP case will be resolved. The SEC has not taken similar action, despite Ripple’s decision to withdraw its appeal.

District Judge Analisa Torres rejected the agency’s proposed settlement with Ripple, resulting in further delays and ongoing uncertainty regarding the case’s resolution.

Legal expert Bill Morgan discussed the situation and stated, “The SEC has not yet withdrawn its appeal in the Ripple case.”

The SEC has no deadline to revoke the appeal, he clarified. Although it could simply ask for more time, the SEC has until August 15, 2025, to report to the appeals court if it chooses to take action.

We should hear something about that in the next two weeks. The core issue in the SEC v. Ripple case, filed in December 2020, was whether Ripple’s sales of XRP qualified as unregistered securities.

According to a significant 2023 decision by Judge Torres, programmatic exchange sales of XRP were not securities, but institutional sales were.

Judge Torres rejected the settlement that the SEC and Ripple had agreed upon to reduce the fine and lift the injunction. Despite the ongoing legal drama, XRP’s recent surge in popularity can be attributed to several factors. Institutional interest has increased due to the court ruling, which provided partial regulatory clarity, making XRP a more attractive asset for businesses. Its role as a fast and affordable bridge currency for international payments continues to draw the attention of financial institutions and treasuries. Furthermore, the growing possibility of an XRP spot ETF encourages some companies to include XRP in their treasury assets, paving the way for broader mainstream adoption.