XRP News Today: XRP Slumps After SEC Motion Denied—What’s Next for Ripple’s Token?

XRP price tumbled sharply following a critical legal setback in the ongoing XRP SEC lawsuit. The denial of a joint motion by Ripple and the Securities and Exchange Commission (SEC) by Judge Analisa Torres sent waves through the market, triggering increased selling pressure and casting uncertainty over XRP’s near-term trajectory.

On June 27, XRP took a sharp hit, falling more than 5% from $2.21 down to around $2.08 before bouncing back slightly to about $2.10. This came despite some calming news on the global stage and big moves by Ripple, which shifted roughly $439 million in XRP to an unknown wallet. Other big holders also moved about $58 million worth of XRP to exchanges, which many see as investors either cashing out or reshuffling their portfolios.

XRP was trading at around $2.09, down 3.71% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

This price drop happened right after Judge Analisa Torres denied Ripple and the SEC’s request for early feedback on a proposed $50 million settlement. Essentially, this means the case won’t be settled anytime soon because the judge wants the appeal process to play out first. That was a letdown for many who hoped for a quicker resolution, and it definitely added to the nervousness in the XRP market.

XRP charts currently present a less-than-optimistic outlook. The price broke down from what’s called a bullish flag pattern—a signal that sellers are gaining the upper hand. Resistance is holding strong around $2.17, and the price is now testing important support near $2.08 to $2.09. Trading volume spiked big time during the sell-off, with over 114 million XRP traded in some hours, but it slowed down afterward as buyers seemed to back off.

XRP price is likely to retest the $2 critical support following the short-term bearish momentum. Source: fibonacci6180 on TradingView

Technical tools also point to more selling ahead. The Stochastic RSI, which measures momentum, has dropped deep into oversold territory on the 4-hour chart, meaning XRP is under serious selling pressure right now. The MACD, another key indicator, is showing growing bearish signals. Traders are watching nervously to see if XRP can hold those critical support levels or if it will fall below the key $2 mark.

Things aren’t looking great on the network side either. Activity on the Ripple ledger has slowed dramatically. Data shows daily payments dropped from nearly 1.83 million transactions to just about 277,000 in a single day—a huge 84% plunge. This suggests that fewer people are using the network, likely because of the ongoing legal uncertainty.

At the same time, some of the biggest XRP holders are selling more, which is pushing prices down further. When volume goes up but prices go down, it usually means investors are taking profits or repositioning before the next big move. All this doesn’t bode well for XRP’s short-term price outlook.

There was once strong excitement around a U.S. XRP spot ETF getting approved. Just a few weeks ago, many thought there was over a 95% chance it would happen. But after the latest court decision, those hopes dropped to about 76%. That sudden shift has many investors sitting on the sidelines, waiting for clearer signals before diving back in.

The XRP ETF faces uncertainty as Judge Torres’ dismissal of the Ripple-SEC motion means the lawsuit will continue. Source: Whale via X

The overall crypto market isn’t making things easier either. Big names like Bitcoin have been slipping due to global uncertainties and some profit-taking, which drags down sentiment across the board. With the added weight of legal troubles, XRP is feeling this pressure even more.

Looking ahead, XRP’s position looks shaky. If the selling continues, it could test support around $2.00 or even slide down to $1.91—the lowest level we’ve seen recently. On the other hand, if buyers return, there’s room for a rebound up to resistance zones near $2.15 or even $2.23.

A potential bullish breakout of the current symmetrical triangle on the weekly chart could initiate a long-term bullish rally for XRP. Source: DrDovetail on TradingView

Brad Garlinghouse, Ripple’s CEO, has stayed upbeat about the company’s tech and its legal fight throughout this whole XRP lawsuit. Ripple is still building out its platform and gaining interest from institutions, which is promising. But until the legal case settles, uncertainty will keep hanging over XRP’s price and market mood.

• Judge Torres denied the SEC-Ripple joint motion for early settlement feedback, delaying legal resolution.
• XRP price dropped over 5%, testing key support at $2.08 amid heavy whale movements and selling.
• Technical indicators signal increased bearish momentum, with oversold conditions on short-term charts.
• Ripple ledger network activity sharply declined, reflecting reduced on-chain usage.
• XRP ETF approval chances have diminished, causing investors to adopt a cautious stance.
• The broader crypto market downturn compounds XRP’s price pressure.
• Key price levels to watch are support near $2.00 and resistance around $2.15 to $2.23.
• Ripple CEO Brad Garlinghouse remains optimistic, but legal uncertainty keeps XRP under pressure.

As the XRP lawsuit continues to unfold, traders and investors will be closely monitoring both court developments and technical signals. With the SEC Ripple case far from resolved, Ripple XRP news will remain pivotal in shaping XRP’s future market performance and valuation. For now, cautious optimism mixed with heightened volatility characterizes the Ripple market outlook.