Ripple’s Legal Shenanigans: Will XRP Soar or Sink? 🤔💸

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Well now, on the 16th day of June, in the year of our Lord 2025, the fine folks at the US Securities and Exchange Commission (SEC) decided to tiptoe into the courtroom and request the good ol’ US Court of Appeals for the Second Circuit to hit the pause button on their ongoing tussle with Ripple.

It seems they’ve got a little motion brewing for an indicative ruling down in the district court, which, if you ask me, is just a fancy way of saying, “Let’s drag this out a bit longer.” So, while the appeals have been pushed back to August, XRP’s price is holding on like a stubborn mule, steady as she goes for the past 24 hours. 🐴💪

Ripple-SEC Appeal on Hold

According to the latest court shenanigans, the SEC has put in a request to pause the ongoing proceedings, citing that they’re waiting for the lower court to decide if it wants to change its mind about its original judgment. Talk about a game of legal hot potato!

This little development follows a joint filing on June 12, where Ripple and the SEC decided to hold hands and sing Kumbaya, asking for an indicative ruling to lift the injunction from the Final Judgment. Ain’t that sweet? 🤝

The SEC laid out three reasons for this pause request, which I reckon are as follows: a proposed settlement, a noticeable shift in their approach to crypto enforcement (whatever that means), and a mutual desire to avoid a long, drawn-out courtroom drama. 🎭

Now, the regulator is set to file another status report by August 15, so mark your calendars, folks! 🗓️

XRP Holds Strong Ahead of Key Ruling

Despite the delays, XRP’s price is as steady as a ship in calm waters. It seems the bullish sentiment is creeping back into the market like a cat burglar in the night.

This resilience is bolstered by a growing appetite for the altcoin as investors sit on the edge of their seats, waiting for Judge Torres to make a ruling on Ripple’s request to lift the injunction and reduce the proposed penalty to a mere $50 million. That could be the spark that lights the fire! 🔥

On-chain data is showing a remarkable uptick in user activity on the XRP Ledger. According to the analytics wizards at Santiment, the number of active XRP addresses has surged to over 295,000 per day this past week, a stark contrast to the paltry 35,000–40,000 daily average seen over the last three months. Talk about a party! 🎉

Moreover, the number of whale and shark wallets (those holding at least 1 million XRP) has climbed to over 2,700. This is the first time in XRP’s 12+ year history that such a large-holder accumulation has been recorded. It’s like a feeding frenzy out there! 🦈

All this hullabaloo comes as the market prepares for what could be a favorable ruling from Judge Torres. Fingers crossed! 🤞

Additionally, XRP’s Long/Short Ratio is looking quite bullish at 1.02, indicating that more traders are betting on a price rally. It’s like a game of poker, and everyone’s going all in! 🃏

The Long/Short Ratio compares the number of long and short positions in the market. When it’s above one, it means traders are mostly betting on a price increase. So, let’s hope they’re not just whistling past the graveyard! 👻

XRP Holds $2.22: Bullish Setup or Bearish Trap Ahead of Ruling?

As of now, XRP is trading at $2.21, marking a 1% gain over the past day. With network activity strengthening and a bullish long/short ratio, a favorable ruling could send prices soaring like a kite on a windy day. 🪁

If all goes well, XRP could climb toward $2.29. If it breaks through that resistance, we might just see it hit $2.45. But beware, if the ruling doesn’t go Ripple’s way, the bears might come out to play and drag the token down to $2.08. It’s a wild ride, folks! 🎢

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2025-06-17 18:08