XRP News Today: XRP Rises 7% Amid Ripple SEC Case Uncertainty

Coin WorldMonday, Jun 16, 2025 1:51 pm ET
1min read

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) remains a focal point for the cryptocurrency community. The deadline for a critical status report in the case has reportedly passed, but there is no official confirmation from the court regarding its submission.

According to AI assistant Grok, a significant update in the case, whether it be a status report or a court ruling, was anticipated for June 16, 2025. Given the typical court filing hours, this update should have been received by now. However, delays are possible, with the next potential dates being June 19 or even as late as August.

Despite the ongoing legal uncertainty, the price of XRP has been increasing. Over the past 24 hours, it has risen by approximately 7%, showing a positive trend as the broader market sentiment improves. Other major cryptocurrencies, including Bitcoin and Ethereum, are also experiencing gains.

XRP is currently trading at $2.31 on the daily chart. Over the past few days, XRP has been fluctuating between a support level of around $2.10 to $2.25 and a resistance level between $2.31 and $2.36. This sideways movement has kept the market relatively stable without any significant breakouts or breakdowns.

There is also a potential head and shoulders pattern forming on the chart, which could indicate a bearish outlook for XRP. However, this pattern would only be confirmed if the price drops below $2.25.

If Bitcoin continues to rise in the short term, XRP and other altcoins might follow with a modest price increase. However, any upward movement is likely to be limited for now, as the market awaits clearer signals from the ongoing legal battle.