The United States Securities and Exchange Commission (SEC) and Ripple Labs filed another motion to U.S. District Court Judge Analisa Toress requesting the dissolution of the existing injunction. According to the court filing dated June 12, 2025, both parties requested the court to order a release of the $125 million penalty from the escrow.
The joint motion requested the court to distribute $50 million to the U.S. SEC as a settlement. The filing suggested that the remaining funds in the escrow be directed to Ripple. Last month, the court denied a joint motion by Ripple and the SEC due to lack of supporting evidence.
The recent joint motion between Ripple and the SEC did not have an immediate positive impact on XRP price. The large-cap altcoin, with a fully diluted valuation of about $218 billion and a 24 hour average traded volume of around $2.3 billion, had dropped 4 percent to trade about $2.18 on Thursday, during the late North American trading session.
In the daily timeframe, XRP price has been forming a potential inverse head and shoulder (H&S) pattern after an impressive bullish breakout during the fourth quarter 2024. With XRP price having consolidated for the first half of 2025, several indicators, including the daily MACD, signal an imminent bullish sentiment in the second half of the year.
However, a consistent close below the established support level around $2 will signal more pain for the XRP holders in the subsequent months.
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