XRP price prediction: Will the altcoin stand tall or is a storm brewing?

The price of XRP is in a tug-of-war between the $2.1704 resistance level and the $2.1318 support level on Monday morning, trading at $2.1639 at the time of writing. The $2 level also appears to be providing strong support for the altcoin, which may be a beacon of hope for traders who are hoping to see XRP rise to new highs.

As the saying goes, all good things must come to an end, and the mood among derivatives traders is souring, with more traders betting against XRP than those who are bullish. Daily interest in XRP is also fading fast, which may be a sign that traders are losing interest in the altcoin.

The technical indicators on the daily price chart are mixed, with some suggesting that XRP could continue to rise, while others suggest that it could fall further. The RSI is still above the neutral level of 50, while the MACD is flashing green histogram bars.

The next key price levels to watch are the 50% Fibonacci retracement level of the decline from the peak of $3.40 to a low of $1.61, which is located at $2.50, and the R1 and R2 technical levels, which are located at $2.39 and $2.80, respectively.

The final fate of the SEC vs. Ripple lawsuit and the delay of the first XRP ETF filing are related events.

Bill Morgan, a renowned lawyer, took to X to highlight that the deadline for the SEC to file a status report following the ruling in its case against Ripple has been postponed from April 16 to June 15.

This extension coincides with the new approval date for Franklin Templeton's Bitcoin ETF. Having initially been set for May 17, the ETF application is now set for June 17—falling just after the 60-day period for the SEC to file a status report on the case.

"Oddly, the delay of the ETF approval to 17 June 2025 is to a date that falls just after the expiry of the 60 day period by which a status report must be filed by the SEC in the SEC v Ripple appeal pursuant to the court order dated 16 April 2025."

The SEC has been sued by several parties, including blockchain startup LChain and iTrust Capital, for allegedly delaying the approval of several crypto-related products without good reason. Among these products is the iTrust Capital's application for an XRP futures ETF, which was initially set for May 17 but later shifted to June 17.

The administrative law judge's ruling in the SEC case against Ripple occurred on July 13, 2023. Following the ruling, the SEC requested an extension to file an appeal, which was granted by the judge and set the new deadline for April 16, 2024.

Following the ruling, several institutions, including Franklin, Global X, and Point72, applied for Bitcoin and Ethereum ETFs, with the approval timeframe set at 240 days.

The SEC approved the first two Bitcoin futures ETFs from Invesco and Bitshares in 2021, following which several other institutions applied for various crypto-related products. Among them, Franklin's application for an XRP futures ETF was the first to be filed on February 15, 2024.

The DEUMG Global Real Estate Technology ETF (MAGZ) is also set to expire on June 17.

The SEC has been accused of delaying the approval of crypto-related products to protect the interests of the stock market. However, several economists believe that the SEC is simply struggling to keep up with the rapid pace of innovation in the crypto industry.

The administrative law judge's ruling in the SEC case against Ripple occurred on July 13, 2023. Following the ruling, the SEC requested an extension to file an appeal, which was granted by the judge and set the new deadline for April 16, 24.

After the ruling, several institutions, including Franklin, Global X, and Point72, applied for Bitcoin and Ethereum ETFs, with the approval timeframe set at 240 days.

The SEC approved the first two Bitcoin futures ETFs from Invesco and Bitshares in 2021, following which several other institutions applied for various crypto-related products. Among them, Franklin's application for an XRP futures ETF was the first to be filed on February 15, 24.

The DEUMG Global Real Estate Technology ETF (MAGZ) is also set to expire on June 17.

The SEC has been sued for delaying the approval of several crypto-related products without good reason. Several economists stated that the SEC is struggling to keep up with the innovation in the crypto sphere.