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XRP Price on the Brink After Ripple’s Legal Motion Faces Rejection
By: coin central|2025/05/16 18:45:05
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TLDRXRP price dropped by 5 percent after the court denied Ripple’s joint motion.Judge Analisa Torres ruled the motion was improperly filed in the ongoing SEC lawsuit.Ripple aimed to avoid penalties including a sales ban and full financial fine.XRP price corrected nearly 10 percent from its recent high of $2.60.The cryptocurrency is now testing a critical trendline with key support near $2.19.The XRP price dropped sharply following the recent court decision in the Ripple vs. SEC lawsuit. Judge Analisa Torres rejected a joint motion seeking an indicative ruling, leading to renewed uncertainty. This development triggered a 5% decline in the XRP price, which briefly touched $2.35 amid intensified market pressure.XRP Price Weakens After Legal BlowRipple encountered a legal setback after the court refused to accept the joint motion to reduce regulatory penalties. The XRP price reacted negatively after facing rejection at the $2.60 level earlier this week. The price has corrected nearly 10% from its recent high as bearish sentiment gains momentum.The court ruled that the motion was improperly filed and could not reverse parts of a prior final decision. Ripple aimed to avoid penalties related to securities violations, including a sales ban and a full financial penalty. This outcome delayed prospects of a quick resolution and added pressure on the XRP price at a critical market phase.$XRP is retesting the trend line from above. A break below this trend line could trigger the start of a larger pullback into the support region which is defined between $2.19 and $1.79. pic.twitter.com/Q3iLnDTNDz— Man of Bitcoin (@Manofbitcoin) May 15, 2025As a result, market uncertainty increased, and XRP open interest dropped by 6% to $5.08 billion, as per Coinglass data. Liquidations surged to $22.86 million in 24 hours, with $20.37 million coming from long positions. Technical analysts highlighted that XRP price is now testing a vital trendline, which could signal further losses if breached.Ethereum and Solana Lead Gains While XRP TrailsWhile XRP price struggles, Ethereum has posted gains driven by strong investor interest and a supportive broader market trend. Ethereum rose by over 20% this month as increased trading volumes and network activity contributed to its upward momentum. Despite some volatility, ETH maintained strength above its key support levels.Solana also outperformed XRP in recent weeks, recording a monthly gain of over 30% fueled by renewed interest in DeFi platforms. Analysts noted consistent inflows into Solana-based projects, boosting its price performance. In contrast, XRP price has lagged as regulatory uncertainty remains a significant weight on its outlook.DOGE showed mixed movement, but still outpaced XRP, with a 5% monthly increase backed by retail trading interest. The meme coin held support levels well, showing resilience compared to the decline seen in XRP price. XRP’s underperformance highlights the market’s reaction to Ripple’s prolonged legal challenges.XRP Price Holds as Legal Talks ContinueFollowing the court’s denial, Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed continued cooperation with the SEC to resolve the case. Ripple is expected to revisit the motion jointly with the SEC, aiming to address procedural issues raised by the court. The parties may seek a limited remand through the Court of Appeals to pursue agreed-upon relief.Nothing in today’s order changes Ripple’s wins (i.e. XRP is not a security, etc). This is about procedural concerns with the dismissal of Ripple’s cross-appeal. Ripple and the SEC are fully in agreement to resolve this case and will revisit this issue with the Court, together. https://t.co/vBQdBD3FNe— Stuart Alderoty (@s_alderoty) May 15, 2025If approved, Ripple would file a motion to dissolve the injunction and reduce penalties to around $50 million. Following that, both Ripple and the SEC may dismiss their respective appeals with the Second Circuit Court. However, until clarity emerges, the XRP may remain range-bound or face further declines.Technical indicators now show XRP price testing support between $2.19 and $1.79, which analysts consider a make-or-break zone. Any breach below this level could trigger extended losses and delay recovery efforts. Until then, XRP movement will likely reflect legal developments and sentiment surrounding Ripple’s next legal steps.The post XRP Price on the Brink After Ripple’s Legal Motion Faces Rejection appeared first on CoinCentral.
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