XRP (XRP) Price: Will Thursday's SEC Meeting Break the $2.30-$2.47 Deadlock

TLDR

Table of Contents

XRP is trading between $2.29-$2.47 range, up 7% over the last month
SEC meeting scheduled for May 29 could resume settlement talks with Ripple
Judge Torres rejected SEC’s attempt to modify her ruling on May 15
Derivatives volume increased 25% to $3.14 billion in the last day
Technical indicators show neutral momentum with tight Bollinger Bands

XRP is currently holding steady near its 50-day moving average at $2.34 as the crypto community awaits a critical SEC meeting. The token has been trading within a narrow weekly range of $2.29 to $2.47 over recent sessions.

The upcoming SEC closed-door meeting on Thursday, May 29, has captured trader attention. This meeting could provide the quorum needed to resume settlement negotiations between the SEC and Ripple.

‼️BREAKING: EXCHANGE CEO CONFIRMS SEC WILL SETTLE WITH RIPPLE APRIL 14TH FREEING #XRP ONCE AND FOR ALL!‼️ pic.twitter.com/jlTRgHUo1v
— FinanceBro (@FinanceBroYT) March 13, 2025

XRP has gained 7% over the last month despite ongoing legal uncertainty. The token also posted a 1.4% increase over the previous day, showing resilience in current market conditions.

Trading activity has increased across multiple metrics. Spot trading volume jumped 40% to $1.86 billion, reflecting rising interest in the token.

Open interest rose 2.25% to $4.76 billion according to CoinGlass data. XRP derivatives trading volume increased 25.82% to $3.14 billion over the last day.

Legal Developments Shape Price Action

The legal battle between Ripple and the SEC took a turn earlier this month. Judge Analisa Torres rejected the SEC’s attempt to modify her final ruling on May 15.

The SEC had sought to lift XRP’s institutional sales ban and reduce Ripple’s $125 million penalty. Following this rejection, XRP fell from $2.65 to $2.26.

Legal analysts, including pro-XRP attorney John Deaton, believe progress requires the SEC to acknowledge XRP as a commodity. This move could reshape the legal landscape and boost institutional confidence.

If no settlement is reached, the court could push the SEC to resume its appeal. Alternatively, more time could be granted if both parties show good faith in negotiations.

Technical Analysis Points to Consolidation

XRP’s technical indicators present a mixed picture. The relative strength index sits at 51, indicating neutral momentum.

The stochastic oscillator shows short-term upside potential with a possible buy signal from oversold levels. However, the moving average convergence divergence remains slightly bearish.

Bollinger Bands are tightening around the current price level. This pattern suggests a larger move might be on the horizon.

XRP is still trading above important long-term moving averages. This positioning shows that deeper structural support remains intact.

The price started a recovery after forming a low at $2.2670. Bulls managed to push the token above the $2.300 resistance level.

There was a break above a connecting bearish trend line with resistance at $2.30. The pair surpassed the 23.6% Fibonacci retracement level of the recent downward move.

Current resistance levels sit near $2.380 and $2.420. A clear move above $2.420 could send the price toward $2.480 resistance.

If XRP fails to clear the $2.380 resistance zone, another decline could begin. Initial support on the downside sits near the $2.320 level.

The next major support level is located near $2.30. A break below this level could lead to further decline toward $2.2650 support.

XRP may return to $2.65 if it breaks above $2.47 resistance. However, the token risks continuing its correction toward $2.20 if it falls below $2.29 support.

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