Ripple Shakes Off Legal Doubt as XRP Price Pushes Toward $3

XRP (XRP-USD) rose 2% on June 16, reaching $2.20 intraday, as traders grow more confident that Ripple’s fight with the SEC is finally nearing the finish line. A joint settlement motion filed last week has revived hopes that the legal saga, one that’s weighed on XRP for year, could end with a favorable outcome. And Wall Street is starting to price that in.

The joint request, filed June 12, proposes a reduced $50 million penalty and the removal of Ripple’s remaining $125 million fine. That came after a similar motion was denied in May for procedural reasons. This time, the filing checks all the right boxes. Attorney John Deaton says there’s a 70% chance Judge Analisa Torres will sign off.

For XRP holders, that could mean more than a courtroom win. It could mean clarity—something that’s historically sent prices sharply higher.

XRP’s Technical Setup Targets $3.12

On the charts, XRP is showing signs of a bullish breakout from a falling wedge pattern—often a sign that a trend reversal is brewing. A close above $2.25 would confirm the breakout and open the door to a move toward $3.12. That’s a potential 40% gain from current levels.

The pattern echoes previous XRP cycles, where long periods of sideways price action were followed by sharp, vertical rallies. XRP now trades above all major moving averages—a key signal that trend momentum may be building.

Wider Market Rally Adds Support

XRP isn’t alone. Bitcoin reclaimed $107,000, Ethereum is back above $2,600, and Solana surged 8% to $156. The total crypto market cap climbed 2.2% to $3.34 trillion. Traders are clearly back in risk-on mode, shrugging off global tensions and zooming in on opportunity.

The Crypto Fear & Greed Index dipped from 71 to 61 last week but remains in the “greed” zone. That suggests there’s still room for upside before sentiment becomes overheated.

Why Traders Think XRP Isn’t Done

This bounce isn’t just a reaction to broader market moves—it’s about XRP’s unique position. Unlike other tokens, XRP’s price has been tethered to a legal cloud for years. Now that fog is beginning to lift. With a court-approved deal possibly just days away, traders are betting on a major revaluation.

And unlike past rallies built on speculation, this one has fundamentals backing it. Regulatory clarity. Chart momentum. And a massive community.

At the time of writing, XRP is sitting at $2.26.