XRP Targets $2.29 as Wave (5) Builds and SEC Case Nears End

• XRP nears key resistance as wave (5) structure maintains bullish momentum.
• Ripple drops appeal, SEC retreat clears path for regulatory closure.

XRP is approaching a potential price breakout as it continues in its fifth Elliott Wave. Analyst Morecryptoonl reported that XRP is likely completing the fifth wave of its Elliott Wave pattern. 

However, on the 1-hour Bitstamp chart, the bullish wave (5) remains active as the price holds near $2.18. This movement follows a rebound from the $2.04 level, which coincides with the 50% Fibonacci retracement from wave “C.”

The current wave structure shows earlier waves (1) to (4) remain intact. The bullish scenario suggests XRP could reach $2.27–$2.29, the 223.60%–238.20% Fibonacci extension range. A breakout would confirm the bullish continuation, while a rejection may threaten the wave’s integrity. 

At the time of writing, XRP is trading at $2.19, having risen 4.67% over the past 24 hours.

Short-term momentum supports further upside, but the structure could break down if momentum weakens below $2.18. The $2.04 level now acts as critical support in the event of a retracement.

Ripple and SEC Move Toward Final Resolution

Ripple Labs has taken steps to finalize its legal case with the U.S. Securities and Exchange Commission. On June 27, 2025, CEO Brad Garlinghouse announced that Ripple would drop its cross-appeal. This follows Judge Analisa Torres’s denial of a joint motion for an indicative ruling.

According to court statements, the SEC is also expected to withdraw its appeal, effectively ending the dispute. Judge Torres reaffirmed that the original 2023 ruling stands. XRP is not classified as a security in public markets, though institutional sales were violations under securities law.

As part of the ruling, Ripple agreed to a $125 million penalty. A permanent injunction now restricts the firm from institutional sales in the U.S. Stuart Alderoty, Ripple’s Chief Legal Officer, said the company chose to accept the decision and move forward. Ripple now refocuses on developing its cross-border payment infrastructure and expanding global adoption.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.