- XRP fell over 5% to $2.35 after Judge Torres denied Ripple-SEC joint motion.
- XRP open interest dropped 6% to $5.08B; $22.86M liquidated in 24 hours.
- XRP underperforms with <16% monthly gain amid ongoing legal uncertainty.
XRP’s value decreased more than 5% on Thursday as it fell to $2.35 following a loss in the Ripple-SEC legal case. The joint motion from both parties seeking an indicative ruling received a denial from Judge Analisa Torres. The case now faces delays in progress while also creating more uncertainty about cryptocurrency’s immediate future.
The ongoing Ripple-SEC lawsuit intensified as the latest development both disrupted investor sentiment and triggered additional volatility for XRP.
The motion aimed to modify earlier rulings related to Ripple’s penalties. However, Judge Torres stated that the filing did not meet procedural standards. The court maintained that both parties would need to demonstrate that revising the decision aligns with legal requirements and public interest. Consequently, the XRP market reacted sharply to the ruling, leading to renewed bearish pressure.
Technical Breakdown Reflects Uncertainty in Market Outlook
XRP is currently testing a major trendline support following its drop to $2.35. Earlier in the week, the price faced rejection at nearly $2.60, and it has since corrected nearly 10% from that level. Technical analysts now identify the $2.19 to $1.79 range as the next possible support zone if current levels fail to hold.
Additionally, Coinglass data revealed a decline in XRP open interest, down 6% to $5.08 billion. The 24-hour liquidation figures reached $22.86 million, including $20.37 million in long position liquidations. The market has adopted a cautious approach in derivatives trading due to new legal issues.
XRP’s monthly increase did not exceed 16% despite altcoins experiencing an overall market rally. Major cryptocurrencies such as Ethereum and Dogecoin achieved higher performance rates that spanned from 3% to 50%. Ripple’s unresolved legal status remains a key factor negatively affecting XRP’s market performance.
XRP’s Short-Term Performance Tied to Legal Progress
Ripple CLO Stuart Alderoty confirmed that Ripple and the SEC would continue to collaborate on resolving the procedural concerns. He clarified that Thursday’s order does not impact the court’s previous findings regarding XRP’s security status. Pro-XRP lawyer Bill Morgan outlined the possible next steps, which include a limited remand motion followed by agreed relief if approved by the appellate court.
The latest legal development in the Ripple case has shifted market attention to the timing and outcome of future filings. Until procedural issues are resolved and clarity is restored, XRP’s price action may remain under pressure. Market participants are now closely monitoring the next steps from both Ripple and the SEC as they seek to address the court’s requirements.
Legal Stalemate Delays Resolution in High-Profile Case
Judge Torres’s decision marks a pause in Ripple’s attempt to dismiss key penalties, including restrictions on XRP sales and the financial fine. The judge emphasized that Ripple and the SEC must meet defined procedural standards before any changes to previous rulings can be considered.
Crypto lawyer John Deaton noted the prolonged nature of the SEC’s pursuit, which has spanned five years and required extensive legal effort. The recent motion was viewed by the court as an attempt to nullify earlier outcomes without a sufficient legal basis.
