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- Binance Case: The SEC and Binance jointly filed a motion on February 10, requesting a 60-day stay, citing the Crypto Task Force’s potential influence on a resolution.
- Coinbase Case: The SEC requested a 28-day extension to respond to Coinbase’s (COIN) motion for an interlocutory appeal. The SEC also referenced the Crypto Task Force and the possibility of a resolution.
These court filings have fueled optimism that the SEC may withdraw its appeal in the Ripple case. However, the SEC could wait for Paul Atkins’ confirmation before any court action. Ripple must file its appeal-related reply brief by April 16. The deadline could come after Atkins’ confirmation, allowing acting Chair Uyeda and Commission Peirce to prioritize other crypto enforcement cases first.
XRP Price Trends: Breakout Hinged on Spot-ETF and Appeal Sentiment
Near-term price outlook hinges on the SEC’s appeal strategy in the Ripple case and XRP-spot ETF approvals.
- If the agency withdraws its appeal, XRP could surge past its all-time high of $3.5505 to target $4.
- A withdrawal and approval of XRP-spot ETFs could drive further upside.
- Conversely, if the SEC proceeds with its appeal, XRP could retreat toward $1.50.
XRP Price Action
Daily Chart
After the four-day winning streak, XRP sits above the 50-day and 200-day Exponential Moving Averages (EMA), sending bullish price signals.
If XRP returns to $3, the bulls may target the January 16 high of $3.3999. A breakout from $3.3999 could signal a move toward the all-time high of $3.5505.
Conversely, a drop below the 50-day EMA and $2.5 could signal a fall toward the $1.9299 support level and the February 3 low of $1.7024.
With a 14-day Relative Strength Index (RSI) reading of 55.68, XRP could break above the January 2025 high of $3.3999 before entering overbought territory (RSI above 70).
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