Ripple and SEC File Joint Motion for 60-Day Settlement Pause

Ripple and its cryptocurrency XRP are in the spotlight due to a significant legal update. The cryptocurrency is trading at $2.02, reflecting a 2.83% increase.

Legal Developments

Ripple and the SEC filed a joint motion for a 60-day suspension of appeals, indicating potential settlement progress.
The pause aims to finalize an agreement-in-principle to resolve the lawsuit, pending SEC approval.
This case started in late 2020 when the SEC accused Ripple of unregistered securities sales via XRP.
The SEC's recent approach has softened amid changing political dynamics, withdrawing lawsuits against other crypto firms.
Ripple CEO Brad Garlinghouse noted that the SEC has withdrawn its appeal regarding the legality of programmatic XRP sales.
Both parties are focusing on conserving resources, paving the way for a negotiated settlement.

XRP Price Analysis

XRP is currently near key resistance at the 20-day EMA of $2.10.
A breakout above this level could lead to further gains, targeting the upper Bollinger Band at $2.50.
The lower Bollinger Band is positioned at $1.77, suggesting potential volatility ahead.
The RSI stands at 44.61, indicating neutral momentum with upward movement; crossing above 50 may suggest bullish sentiment.

XRP Price Chart | Source: TradingView