Ripple and SEC seek court’s signal for possible settlement as XRP struggles with resistance levels - IcoHolder.

In the latest development in the long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has submitted a new letter supporting a joint request for an indicative ruling from the court. This request asks the judge to provide a signal that would allow both parties to explore a potential settlement while maintaining the original court ruling.

Ripple Clarifies Its Position

Ripple emphasized in the letter that it is not seeking to alter the prior judgment. Instead, the company is requesting that the court consider removing a specific provision that requires Ripple to “obey the law.” Ripple argued that even without that clause, it remains committed to complying with all securities laws, just like any other business operating in the market. The company stated that eliminating the order would not relieve it of legal obligations, and that the same regulatory standards would continue to apply.

Skepticism from Legal Experts

Despite Ripple's efforts to clarify its position, not everyone is convinced the new filing adds much to the case. Marc Fagel, a former SEC attorney, commented that the letter seems more reactive than substantive. He suggested it was likely written in response to skepticism voiced by legal commentators on social media platforms, particularly within the crypto community.

Market Impact on XRP

As the legal dispute continues, the price of XRP has felt the pressure. The token saw a sharp decline after hitting a daily high of $2.31, falling over 7% to trade around $2.15. This marks the fifth unsuccessful attempt since May 29 to break through the resistance range of $2.27 to $2.30. The latest rejection occurred on June 16, further frustrating bullish investors.

Awaiting the Court’s Response

With both Ripple and the SEC expressing willingness to move toward a resolution, the attention now shifts to the court. The crypto world is closely watching to see whether the judge will respond to the joint request, potentially paving the way for a settlement and an end to one of the most high-profile legal battles in the industry’s history.