The protracted legal battle between Ripple 
$1 and the U.S. Securities and Exchange Commission (SEC) is approaching a decisive conclusion. The court’s imminent ruling will notably impact the future of the XRP altcoin. Both parties signaled a potential settlement by suspending appeal processes on June 16. While the ban on Ripple was lifted, the possible penalty has decreased to $50 million. The critical date for this case is August 15, when Judge Analisa Torres is expected to announce the final verdict. If XRP is not classified as a security, institutional investors poised outside the market may seize the opportunity to enter.
XRP’s Path to Institutional Acceptance and ETFs
With the legal uncertainties potentially resolved, XRP could see accelerated acceptance in the institutional sphere. Growing optimism surrounds the applications for a spot XRP Exchange Traded Fund (ETF), with this process now open to public opinion.
On the crypto forecasting platform Polymarket, the approval probability of a spot XRP ETF stands at 91%. Bloomberg’s leading analysts, James Seyffart and Eric Balchunas, estimate this likelihood at 95%.
Positive developments in the Ripple-SEC case and increasing institutional demand strengthen the prospect of a spot XRP ETF gaining approval. Such approval is anticipated to bring significant institutional capital to the altcoin.
Ascending Expectations Through Historical Price Patterns
Analysts have identified noteworthy historical patterns in XRP’s price movements. Analyst EGRAG Crypto suggests that XRP is potentially repeating a formation that previously triggered substantial rises. XRP tested the $3.40 mark in January, fell to $1.61 in April, and is now assessing a critical area.
Based on past performances in 2017-2018 and 2020-2021, the analyst has set target levels at $11.50, $27, and even $42, depending on the strength of the upcoming rally. The historical trend of strong performance in July for XRP coin is emphasized.
Currently trading at around $2.02, XRP could ignite the spark for another mighty leap if the pattern holds in July. Analyst Dark Defender notes that the altcoin maintains its position above the $1.88 support level, sustaining the “5th Wave” model of the upward trend.
