XRP shot up almost 3% in the past 24 hours after Ripple and the SEC submitted a joint filing for a 60-day pause to their appeals and cross-appeals.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
American fintech firm Ripple and its cryptocurrency XRP are once again the center of attention in both legal and market circles amid a notable development in the legal battle against the United States Securities and Exchange Commission (SEC).
At press time, the cryptocurrency is trading at $2.02, up 2.83% on the day, with technical indicators hinting at a potential trend reversal, as per CoinMarketCap data.
Ripple and the SEC have jointly filed a motion to place their respective appeals and cross-appeals in a 60-day temporary suspension, suggesting both parties are edging closer to a settlement.
According to the filing, the pause will give them time to finalize an agreement-in-principle that could resolve the lawsuit completely, pending approval from the SEC.
#XRPCommunity #SECGov v. #Ripple #XRP The parties have filed a joint motion to hold the appeal in abeyance based on the parties’ agreement to settle. The settlement is awaiting Commission approval. No brief will be filed on April 16th. pic.twitter.com/OVKPCIh43H
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 10, 2025
This marks a crucial development in the landmark case that began in late 2020, when the SEC accused Ripple of conducting unregistered securities sales via XRP.
The case has held major implications for how cryptocurrencies are regulated in the United States.
A changing political climate, sparked by the election of President Trump, appears to have softened the SEC’s stance on crypto overall.
In recent months, the regulator has dropped lawsuits against other major crypto firms such as Coinbase and Kraken.
Last month, Ripple CEO Brad Garlinghouse revealed that the SEC had already withdrawn its appeal against the ruling that said the firm’s programmatic XRP sales didn’t violate securities laws.
Ripple, in turn, has decided not to pursue its cross-appeal.
With both sides easing up and aiming to conserve resources, the groundwork is laid for a negotiated conclusion to one of crypto’s most closely watched legal sagas.
From a technical standpoint, XRP is currently navigating a critical juncture. The daily chart reveals that the price is hovering just below the 20-day EMA at $2.10, a key resistance level.
A clean break above this could catalyze further upside momentum.
The Bollinger Bands are tightening, with the upper band at $2.50 and the lower band at $1.77, indicating a period of volatility compression.
This often precedes a breakout, though the direction remains uncertain. A move above $2.10 with strong volume could see XRP test the upper band around $2.50, while a rejection could drag it back toward the lower band near $1.77.
XRP Price Chart | Source: TradingView
Meanwhile, the Relative Strength Index (RSI) is at 44.61, with its moving average at 39.76, still in neutral territory but edging upward.
This suggests that momentum is gradually building after a prolonged cooldown phase. If RSI crosses above 50, it could signal a bullish shift in sentiment.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
