Ripple and the SEC have been embroiled in a legal battle since 2020 when the regulator accused Ripple Labs of selling unregistered securities. Judge Analisa Torres ruled that XRP was not a security when sold to exchanges but determined that its institutional sales violated securities laws. She ordered Ripple to pay $125 million, significantly lower than the SEC’s initial $2 billion demand.

Both parties filed appeals, but the SEC may withdraw its case. Trump has nominated Paul Atkins, a crypto-friendly official, as the next SEC chair. Most analysts expect him to drop the appeal against Ripple.
Technical analysis: XRP price analysis
The weekly chart shows that XRP has lacked clear direction over the past two months. This price movement aligns with most altcoins, which have also experienced pullbacks during this period.

On the positive side, XRP has remained above the crucial support level at $1.9855, the highest swing in April 2021. This price also marked the upper boundary of the cup-and-handle pattern, a well-known bullish indicator.

Additionally, XRP continues to trade above the 50-week moving average and the overshoot point of the Murrey Math Lines tool.

As a result, Ripple may stage a strong comeback, with an initial target of $3.40, the highest swing from November. This target represents a 27% increase from the current level. A breakout above this level could signal further upside, potentially pushing the price toward $5.
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