Ripple SEC Case Update: XRP Price Drop 6% Despite Motion Filing

Ripple SEC Case Update: Motion Filed but XRP Price Drops: Here is Why

The legal battle between Ripple and the U.S. SEC just took a big step. On June 12, both sides filed a joint motion before the June 16 U.S. Court of Appeals deadline. This motion asks the court to change the final judgment by dissolving the ban on XRP's institutional sales and reducing its $125 million fine.

Shared by U.S. attorney James Filan, the filing hopes to help settle the case without going into more appeals. This joint request is crucial because both parties believe a change in the judgment can lead to a faster end to the legal fight. This Ripple SEC news update shows how both sides want to avoid dragging the case longer.

Source: X

But pro-crypto lawyer Bill Morgan warned that this move doesn’t mean the lawsuit is over. He said that both Ripple and the SEC are still preparing for future appeals if a final agreement isn’t reached. He also reminded the public not to fall for misleading news claiming a full settlement has already happened.

Why XRP Is Dropping? Ripple SEC Case Delay, War, and ETF Setbacks

The crypto market reacted quickly. Just within a day, the XRP price dropped by around 6%, now standing near $2.11. This unexpected drop led everybody to ask: why XRP is crashing down?

Ripple SEC Case Delay: The case has taken almost four years so far since the SEC charged the platform in December 2020 with raising $1.3 billion through illegal XRP sales. Investors are still waiting for a verdict. It has created even more panic and negative vibes among the community because of the constant news in court that never brings closure. The update is thus extremely stressful to investors.

Iran Israel War Latest News: World tensions increased more fear. Israeli strikes, Iran Israel war latest news accounts, killed Iran's military commander Mohammad Hossein Bagheri and other top commanders. This has destabilized world markets, including cryptocurrencies. 

Source: X

Investors are selling on fear of a bigger war against the Iran Israel war. The Iran Israel news is pushing people to move their assets out of risky investments like altcoins.

Delay in ETF Approvals: The ETF latest news shows that the government body continues to delay decisions on altcoin ETFs, including XRP ETF delay. While the decision for Franklin Templeton’s XRP ETF is extended to June 17, many see this as the SEC not being ready to support such crypto products. This delay affects the altcoin price, especially ahead of the court decision.

What’s Next for XRP? Price Prediction and Future Outlook

Looking at the USDT daily chart, XRP is trading near $2.12 and showing weakness. The RSI is around 40.87, nearing oversold levels, while the MACD also points to bearish pressure.

Source: TradingView

Bearish Case: If it breaks below $2.10, it might fall to the $1.85–$1.90 zone. Continued legal delays and global issues like the Iran Israel war could keep pushing prices down.

Bullish Case: If investor optimism builds before the July 16 court date, and Ripple wins some relief, it might recover. A breakout above $2.30 could send it toward $2.70–$3.00.

XRP Price Prediction on 16th July: If the case is headed for settlement, then it can touch $3.00. But if delays persist, it can fall to $1.85. Market movement will be based on legal developments, ETF news, and international events.

Conclusion

This update is showing the way in which ripple sec case update, ETF delays, and Iran Israel war are all affecting the price and investor sentiment of the altcoin. Traders need to closely track the Ripple SEC news before executing gigantic movements and watch the July 16 court ruling.

Disclaimer: This is informational purposes only. Do your own research before investing.