TL;DR

Alongside the rest of the crypto market, Ripples native token has headed south with a 3% daily decline that has pushed it to $2.25. The XRP Army, though, remains bullish on the assets future price performance, especially since a key date in the legal case between Ripple and the SEC is approaching.

Save the Date: June 16

It has been nearly three months since Ripple CEO Brad Garlinghouse triumphantly announced on X that the legal spat between his company and the US securities regulator had effectively come to an end. Although both parties indeed reached an agreement regarding the payment Ripple has to make, Judge Torres rejected their joint motion, which would have extended the lawsuit, and there is no official conclusion yet.

Judge Torres argued that the agency and the company failed to file the motion correctly under Rule 60. As of now, June 16 stands as the most crucial date for a major update about the potential resolution between the two, as the SEC must file a status update with the US Court of Appeals by that date.

Numerous XRP Army members outlined the significance of the date, including perma-bull John Squire. He asked his over 500,000 followers whether Ripples XRP will finally get regulatory clarity after Monday.

All eyes on June 16.

The SEC still hasn’t closed the Ripple case and silence only builds the pressure.

Will this be the day $XRP finally gets regulatory clarity?

The clock’s ticking pic.twitter.com/d1SQDWWHCO

Its worth noting that this is not a settlement or bust date for the case, but its an important deadline for a procedural update. Any real settlement would still require Judge Torress final approval, which could take more time.

Will XRPs Price React?

Although June 16 could have significant implications in the legal case between Ripple and the SEC, market experts believe it wont have a big positive impact on XRPs price movements. After all, the hype surrounding the closure of the case has come and gone, and investors have already factored its resolution. However, there could be further pain on the horizon if the case is extended again, as it has been in the past.

For now, XRPs price struggles at $2.25 following a 3% daily drop. Still, the XRP Army continues to be highly bullish on the assets future price trajectory, marking some mindblowing targets like the one below.

If you solve a real problem for real customers, then there will not be a limitation for $XRPs price.

Utility drives the price, not market cap and not supply. Only utility

Leave a like if you believe in $10,000+ per #XRP! pic.twitter.com/sL8T9WiXIW