Ripple (XRP) Price Prediction: SEC's Withdrawal of Appeal Boosts Expectations, "this date" May End Lawsuit and Stimulate Buying Pressure

Today (8) in the Asian early trading session, Ripple (XRP) did not follow the overall decline of Bitcoin, with the coin price rising to 2.25 USD. The market's optimistic sentiment regarding the potential conclusion of the lawsuit between the SEC and Ripple has driven XRP to reach a high of 2.3539 USD earlier this week.

Despite the SEC's silence on its appeal plans, certain events have heightened expectations that the SEC will abandon its appeal of the ruling on XRP's programmatic sales. Crucially, if Judge Analisa Torres issues a declaratory judgment rescinding the ban on selling XRP to institutional investors and reduces the $125 million fine to $50 million, the SEC and Ripple have previously agreed to drop the appeal.

Although Judge Torres denied the joint motion for two advisory rulings, Ripple announced on June 27 that it would withdraw its appeal. If the SEC does not agree to withdraw the appeal, it seems unlikely that Ripple will abandon its appeal.

However, the SEC must vote on whether to withdraw the appeal, as the injunction and the $125 million fine remain in effect. The SEC's next closed-door meeting is scheduled for July 10, when SEC Chairman Paul Atkins and the commissioners will again vote on the withdrawal of the appeal.

The uncertainty of the voting results continues to cause XRP to fall below its 2025 high of $3.3999 and historical high of $3.5505.

At the same time, the market speculates that the SEC's lawsuit against Ripple is a premeditated farce. A Ripple holder quoted comments from Jesse of Apex Crypto Consulting, who stated: "Jesse believes that the legal dispute between Ripple and the SEC is more like a carefully orchestrated farce. He thinks that the purpose of this farce is to control the price of XRP and allow Ripple to quietly establish strong partnerships globally."

Legal experts strongly oppose this proposal. Cryptocurrency supporter lawyer Bill Morgan commented: "I have never agreed with this theory, even though the indicative ruling joint motion proposed in the last two weeks seems to unnecessarily delay the end time of the lawsuit by three months (and it is still ongoing), just hoping and praying."

It is worth noting that Ripple had previously promised that if the court lifted the injunction and reduced the fine, Ripple would withdraw the appeal. However, just one day after Judge Torres denied the second motion regarding the indicative ruling on settlement terms, Ripple announced the withdrawal of the appeal, which raised confusion about the necessity of a settlement.

Former SEC lawyer Marc Fagel commented, "They were sued by the SEC for violating federal securities laws, and the court has confirmed it. The SEC enforcement personnel simply do not care whether a company is changing the status quo. This is not how the agency operates. Sorry."

XRP Price Analysis

FXEmpire analyst Bob Mason stated that the recent price outlook for XRP largely depends on the SEC's appeal plans and the related progress of the XRP spot ETF in the U.S.

The SEC has simultaneously suspended the issuance of ETFs while approving the rule change for the Grayscale Digital Large Cap Fund (GDLC) to convert into an ETF. GDLC provides investors with the opportunity to invest in BTC, ETH, ADA, SOL, and XRP. The final issuance of the GDLC ETF may pave the way for the approval of the XRP spot ETF, which could become a potential catalyst for XRP's breakout.

If it breaks through the July 7 high of $2.3539, it may reach the May high of $2.6553. If it continues to break through $2.6553, the bullish target may reach $3, as well as the 2025 high of $3.3999.

On the contrary, falling below the 50-day EMA may expose the critical $2.2 support level, and even the 200-day EMA.

(Source: Trading View)