Ripple and the U.S. Securities and Exchange Commission (SEC) are facing a critical phase in their long-standing lawsuit. As the deadline for key document submissions passes, tension is rising in the XRP community, with no official submission or position statement from the court yet. This document submission could be a significant turning point in the trial proceedings, drawing intense market attention.
According to the AI assistant 'Grok', the key quarterly update report or court decision is expected to be released by June 16 (local time). Considering the typical U.S. court work schedule, the document should have been filed by now, but there are speculations that the result announcement could be delayed until June 19 or even August due to potential court processing delays.
Despite the uncertainty, XRP's price is performing well. Over the past 24 hours, XRP has risen by approximately 7%, joining the positive trend in the overall cryptocurrency market. With major coins like Bitcoin (BTC) and Ethereum (ETH) also showing an upward movement, XRP is recording an especially significant price increase. Currently, XRP is trading around $2.31, positioned at the upper range of its recent support level between $2.10 and $2.25. The short-term resistance line appears to be at $2.36.
From a technical analysis perspective, the 'head and shoulders' pattern is forming, which cannot rule out the possibility of a bearish reversal. For this pattern to complete, the price would need to fall below the key support line of $2.25, drawing attention to whether this downward scenario will materialize.
Cryptocurrency specialists predict that if Bitcoin continues its short-term rally, it could have a positive impact on altcoins overall. While XRP might explore additional upside potential during this period, the limited price increase could be constrained due to the uncertain outcome of the Ripple-SEC lawsuit.
XRP's medium to long-term direction is expected to be determined by legal clarity and regulatory risk resolution. Therefore, the legal documents to be released in the coming days are anticipated to have a massive impact on Ripple's future business and XRP's market position.
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