XRP continued its upward momentum, trading at $2.19 (+2.2%) over the past 24 hours, as legal optimism grows around Ripple’s chances of success in its latest joint motion with the SEC. Meanwhile, Bitcoin (BTC) is holding strong at $107,019, gaining nearly 2% and showing signs of renewed bullish momentum on technical indicators, .
XRP continued its upward momentum, trading at $2.19 (+2.2%) over the past 24 hours, as legal optimism grows around Ripple’s chances of success in its latest joint motion with the SEC. Meanwhile, Bitcoin (BTC) is holding strong at $107,019, gaining nearly 2% and showing signs of renewed bullish momentum on technical indicators, .
This market strength is being driven by two distinct narratives: a specific, high-stakes legal catalyst for XRP and a solid technical recovery for Bitcoin.
The SEC vs. Ripple case enters a potentially decisive phase this week. The SEC must file a settlement status update with the court today, June 16. If it does not, Ripple will proceed with its reply brief regarding the SEC’s ongoing appeal.
While that filing is procedural, market watchers are more focused on Judge Analisa Torres, who is reviewing a second joint motion to lift the institutional sales ban and reduce Ripple’s $125 million penalty.
Pro-crypto attorney that while the motion improves on its predecessor, rejected for procedural faults, it still stops short of citing “exceptional circumstances,” which may have strengthened its legal standing.
Nonetheless, Morgan said, “Intuitively, I think she will grant the motion but it would not surprise at all if she does not.” Amicus attorney gave the motion a 70% chance of being approved.
If granted, the motion could formally end both the appeal and cross-appeal phases, closing a multi-year legal saga and offering long-awaited clarity for institutional XRP holders. Investors are watching closely, with some expecting a ruling as early as June 16, based on Judge Torres’ past turnaround time.
Bitcoin trades at $107,019, gaining 1.35% today, with key indicators suggesting continued upward pressure. BTC found strong support near the 0.786 Fib retracement at $101,262, bouncing sharply above this level.
The next major resistance sits at the swing high near $111,341, while downside risk increases below $101K, with extended support at $91,651 (1.618 Fib).
The MACD line is attempting a bullish crossover, showing convergence with the signal line around neutral territory. Momentum remains tentative but leans bullish if sustained buying continues.
Also, currently at 54.11, RSI shows a mild bullish bias after bouncing from neutral. The indicator has room to run before overbought conditions, supporting further upside potential.
