XRP Price Prediction With SEC Rumoured To Drop Ripple Appeal On July 3rd: Rally To $5 Incoming?

The landmark Ripple vs SEC legal battle could end on July 3rd. 

Ripple CEO Brad Garlinghouse announced last week that Ripple has dropped its cross-appeal to overturn Judge Analisa Torres’s July 2023 ruling regarding XRP’s institutional sale. 

He also informed that the SEC is expected to drop its appeal, challenging Judge Torres’s ruling on programmatic sales, as well. 

Now, the SEC has released a Sunshine Act Notice regarding a closed meeting on July 3rd. With “resolution of litigation claims” listed on the agenda, the meeting has fueled speculation that the SEC may formally withdraw its appeal and bring the Ripple lawsuit to a close.

The XRP price is now up by nearly 15% since its June 22nd local bottom. Funding rates have flipped positive, indicating a higher demand for long positions over shorts.

XRP price prediction from several prominent analysts indicates the token could be on the verge of a breakout, with targets ranging between $4 and $5.

Is The Ripple vs SEC Court Case Ending On July 3rd?

Ripple CEO Brad Garlinghouse announced last week that the company is “closing this chapter once and for all”, while also reiterating its commitment to “building the Internet of Value”. 

Garlinghouse’s post on X strongly signalled that the Ripple vs SEC case is nearing its end, and it could officially conclude following the Commission’s closed-door meeting on July 3rd.

Last week, SDNY District Judge Analisa Torres rejected a joint motion for an indicative ruling that sought to vacate her July 2023 judgment. This leaves Ripple and the new pro-crypto administration at the SEC with only two options: proceed with their appeals in the U.S. Court of Appeals or formally withdraw and conclude the case.

Ripple has moved ahead with the second option, with the SEC expected to follow suit. 

As a result, Torres’s injunction against XRP’s institutional sales by Ripple remains in place. However, legal expert Fred Rispoli reveals Ripple can find a way to continue institutional sales without violating Judge Torres’s injunction, especially if the SEC opts not to enforce it or grants the necessary exemptions.

XRP Price Nears Massive Breakout  – $5 Next?

Prominent experts have flipped bullish on XRP, especially with regulatory clarity on the horizon, which could pave the way for massive institutional investments. 

XRP price prediction from Team Lambo on X indicates that the asset is on the cusp of a breakout from a bull flag, which could result in a rally to $5 to $10. 

Data from Glassnode reveals that XRP’s funding rate has turned positive and is currently the highest among all Layer-1 coins. There is a much higher demand for long bets rather than shorts. 

The XRP price is currently trading at $2.18. It needs to secure a breakout above $2.30 resistance, as well as its macro downtrend, to kickstart the next bull rally. 

Best Crypto To Buy Now Besides XRP

XRP continues to be among the best large-cap cryptos to buy for the ongoing bull cycle. 

However, a diversified portfolio, with a reasonable allocation to high-upside small caps, is investors’ best bet for outsized returns. 

For instance, a new Bitcoin-themed meme coin, BTC Bull (BTCBULL), is being viewed by many smart money investors as the next 10x crypto. 

The meme coin has already raised nearly $8 million in its presale, now with just 6 days left before its July 7th exchange listings.