XRP surged nearly 3% in the last 24 hours, trading around $2.02, following a major legal development. Ripple and the U.S. Securities and Exchange Commission (SEC) have filed for a 60-day pause in their ongoing appeals, fueling optimism about a possible settlement.
This joint request, submitted to the court, hints at behind-the-scenes progress toward resolving the long-standing legal battle that began in 2020. The lawsuit has centered on whether XRP qualifies as an unregistered security.
Ripple and SEC Seek a Settlement
In their joint motion, Ripple and the SEC asked to temporarily halt both the appeal and cross-appeal proceedings. According to the filing, the pause would allow time to finalize a potential agreement-in-principle, subject to the SEC’s approval.
This move could mark the beginning of the end for one of crypto’s most significant legal showdowns.
Ripple CEO Brad Garlinghouse recently shared that the SEC had already withdrawn its appeal concerning XRP’s programmatic sales, which were ruled not to be securities. Ripple also dropped its own cross-appeal, showing both sides are ready to move forward.
The political shift in Washington, especially after President Trump’s return, seems to be influencing the SEC’s softer stance on crypto enforcement. In fact, the agency has dropped lawsuits against Coinbase and Kraken in recent months.
Technical Outlook: XRP Gears Up for a Breakout
From a technical angle, XRP is trading just below the 20-day EMA at $2.10—an important resistance zone. A strong move above this level could spark a new wave of buying.
Meanwhile, Bollinger Bands are narrowing, indicating a potential breakout. The upper band sits at $2.50 and the lower at $1.77. This kind of volatility compression often leads to sharp price moves.
The Relative Strength Index (RSI) is currently at 44.61, trending upward. If it climbs above 50, we may see growing bullish sentiment.
