XRP Price Holds Strong but Could Judge Shock Ruling Derail $2.35 Breakout?

XRP price continues to maintain a firm stance above the $2.10 support level despite legal uncertainties and market caution.

As the U.S. Securities and Exchange Commission (SEC) and Ripple Labs file a joint motion requesting an “indicative ruling,” legal experts raise concerns over the strength of the argument.

While Ripple resumes RLUSD minting, analysts observe a fragile technical structure forming near resistance zones.

Legal Debate Over SEC-Ripple Joint Motion Raises Uncertainty

Attorney John E. Deaton criticized the US SEC’s latest brief supporting a request for an “indicative ruling” in the Ripple case.

He stated the explanation lacked legal depth and did not meet the threshold of “exceptional circumstances” required to revisit a decided case.

The motion, jointly filed by Ripple and the SEC, aims to seek Judge Analisa Torres’ consideration for revisiting a prior judgment.

Deaton suggested that both parties appear confident the court will not dismiss the motion immediately. However, he questioned whether the judge would accept the limited justification presented.

Crypto lawyer Marc Fagel, who previously served with the SEC, engaged in a public discussion with Deaton.

He expressed uncertainty about the outcome, citing the unique nature of the motion. While Deaton invited Fagel to further explain his views, both acknowledged the situation as uncommon and difficult to predict.

The motion’s outcome could influence how the broader regulatory environment treats digital assets, especially in cases involving prior judgments.

Deaton is scheduled to explain the filing’s implications during a livestream on June 14, where he plans to analyze the legal foundation in detail.

Ripple Resumes RLUSD Minting as Stablecoin Market Gains Attention

Ripple has restarted the minting of its RLUSD stablecoin after a temporary pause that began in late April 2025. The suspension followed the issuance of two tranches totaling approximately 23 million tokens, which Ripple implemented to stabilize circulation and manage market value.

According to CoinMarketCap data, RLUSD’s current circulating supply is around 425.74 million tokens. As of June 13, its market capitalization reached $425.54 million, reflecting a 2.85% increase. The 24-hour trading volume also rose by 6.45% to $147.18 million.

The resumption of minting comes as the U.S. Senate prepares to vote on the GENIUS Act, which addresses the regulation of stablecoins. Ripple’s decision to resume activity suggests readiness for expected changes in the regulatory environment.

In May, Ripple burned 4 million RLUSD tokens to reduce supply and support long-term price stability. Alongside supply management efforts, Ripple has also expanded RLUSD’s availability. The token has been listed on platforms such as Bitget, Gemini, and Revolut.

These actions indicate Ripple’s strategy to balance supply with demand while growing RLUSD’s market reach ahead of potential regulatory shifts in the stablecoin industry.

XRP Price Technical Setup Shows Resistance at $2.20

According to TradingView, the XRP pair is currently priced at $2.15785 on the 4-hour chart. The price has rebounded off the support area at $2.10 after declining off the recent highs at $2.30.

A resistance zone is developing at $2.20-$2.22, at which the asset has already experienced selling pressure.

Candlestick patterns candles indicate small-bodied bullish candles, and this is a sign of a potential consolidation or a selling pause.

There is no powerful reversal candlestick patterns, such as a hammer or engulfing pattern, yet.

The MACD line is still below the signal line, indicating a bearish condition, but the two lines are moving close to each other.

Negative bars are still seen in the histogram, though they are becoming smaller, indicator of decreasing negative momentum.

The RSI is at 40.11 and is beginning to move up out of the 30s slowly, which shows that the selling could be easing.

It is still reading below the neutral 50 but indicates a possible change of momentum. However, if XRP rises above $2.22 with volume, it may begin a bullish trend to $2.35.