XRP News Today: Ripple Faces ETF Uncertainty After Court Rejects SEC Motion

SEC vs. Ripple Case Shock Extends XRP Losing Streak

A surprise legal blow from the SEC vs. Ripple case sent XRP tumbling, extending its losing streak amid mounting ETF uncertainty. XRP fell 1.04% on Saturday, May 17, to close at $2.3543.

Fallout from Thursday’s court ruling in the SEC vs. Ripple case continued into the weekend. Judge Analisa Torres rejected the SEC’s request for an indicative ruling on vacating the injunction banning XRP sales to institutional investors and lowering the $125 million penalty. The ruling sent XRP from a May 14 high of $2.6507 to a May 17 low of $2.2994 before finding support.

SEC Court Filing Crucial for XRP-Spot ETF Market

Following Judge Torres’ ruling, investors await the SEC’s second settlement letter filing, addressing the issues raised by the court. These issues include filing a request for an indicative ruling under rule 60 and convincingly arguing that lifting the injunction and reducing the penalty serves institutional investors and the public.

Developments in the Ripple case remain crucial for the approval of the pending XRP-spot ETF applications. Several XRP-spot ETFs have intermediate deadlines coming up in the week ahead. Thursday’s court ruling will likely shut the door on any surprise approvals. While investors expect the SEC to delay its decision, XRP may still face selling pressure.

XRP demand, however, could rebound if the SEC delivers a convincing argument for the court to lift the injunction and lower the penalty. Amicus Curiae attorney John E. Deaton recently remarked that the SEC would need to publicly admit its position in the case was flawed and that XRP is a commodity, not a security.

Such admissions would be significant for XRP and the broader crypto market and potentially for Judge Torres, fuming over the shift in the agency’s stance after five years of legal battles.

Market Bets and Outlook

Despite Thursday’s ruling, the chances of an XRP-spot ETF approval remain elevated. Polymarket places the approval odds by December 2025 at 83%, up from 68% on April 22 but down from 87% on March 23.

XRP Price Outlook: Legal Moves and ETF Progress in Focus

XRP’s near-term path hinges on developments in the Ripple case and spot ETF-related news.

Ultimately, if the SEC drops its appeal, XRP could retarget its all-time high of $3.5505, with ETF approval potentially fueling a rally toward $5. However, if the court denies the SEC’s second settlement attempt, it may drop to $1.50.

XRP Price Action

Daily Chart

Despite a four-day losing streak, XRP remains above the 50-day and the 200-day Exponential Moving Averages (EMA), signaling bullish momentum.

A breakout above $2.5 could signal a move toward the May 12 high of $2.6553. A sustained move through $2.6553 may enable the bulls to target $3 and the 2025 high of $3.3999.

On the downside, a drop below the 50-day EMA could expose the 200-day EMA and the $1.9299 support level.

The 14-day Relative Strength Index (RSI) sits at 53.40, suggesting room to rise to $3 before entering overbought territory (RSI > 70).

Broader Market Outlook

XRP remains highly sensitive to legal developments and external catalysts. It previously surged to $3.3999 on optimism surrounding the Ripple case and pro-crypto signals from Donald Trump.

Nonetheless, broader macro headlines—trade developments, recession risks—continue influencing risk sentiment.

Looking ahead, regulatory clarity, SEC posture, Ripple’s legal path, and ETF filings will remain the primary drivers of XRP’s performance. Will the SEC retreat, and could that unlock a new bull run?

Click here to discover expert XRP forecasts and key SEC deadlines influencing XRP’s next major move.