The XRP price has reached a significant milestone today, breaking above the $3 mark for the first time in a long while. This price surge may be partly fuelled by a potential decision in the long-standing lawsuit between Ripple, the company behind XRP, and the US Securities and Exchange Commission (SEC), which could be made today. The SEC is holding a closed-door meeting during which a vote may take place on whether to officially withdraw its appeal against Ripple. So, what does this mean for the future of XRP?

XRP price movement today

In the night between 6 and 7 August 2025, the XRP price once again broke through the psychological barrier of $3, accompanied by a strong rise in trading volume—particularly on the South Korean exchange Upbit, where around $95 million worth of XRP was traded. The price surge occurred mainly between 15:00 and 16:00 UTC, testing levels between $2.95 and $3.02.

What‘s happening today between Ripple and the SEC?

On 7 August 2025 at 2:00 PM ET (20:00 CET), a closed meeting is scheduled at the SEC, during which a decision may be made regarding the withdrawal of the appeal against Ripple. This vote is a crucial step towards the formal conclusion of the years-long legal battle. A joint status report is expected to be filed before the 15 August deadline—either confirming the end of proceedings or not, which would mean the case continues. Ripple has already stated it will withdraw its cross-appeal, and CEO Brad Garlinghouse has hinted that the SEC intends to do the same. However, it remains possible that the SEC could request an extension.

What was the Ripple vs SEC lawsuit about?

In December 2020, the SEC accused Ripple of raising over $1.3 billion through an unregistered securities offering via XRP. In July 2023, the court ruled that the sale of XRP on public exchanges did not constitute securities offerings, while institutional sales might still qualify as such.

A settlement followed, including a $125 million fine for Ripple—part of which has already been paid—but the appeal still needs to be formally withdrawn through legal filings. The hard deadline for this is 15 August, when both parties are expected to submit a status report. If the SEC now officially withdraws its appeal and it is confirmed that XRP is not classified as a security, it would open the door wide for XRP spot ETFs and broader institutional inflows.

Impact on the XRP price

A definitive ruling on the appeal—and the resulting legal clarity—could trigger a positive breakout. Expectations are that an official confirmation of the lawsuit‘s conclusion may fuel a new rally, potentially pushing the price towards $3.30 or higher. This could also come from institutional interest: many major firms are already investing heavily in XRP—up to $300 million in some cases. This reflects growing confidence among institutional players in XRP‘s future, especially as the lawsuit nears its end. Analysts are watching key resistance levels around $3.05 and $3.14, with further upside towards $3.25 if the legal outcome proves favourable. Technically, XRP continues to consolidate within a strong upward trend. The coin is trading above its 50-, 100-, and 200-day moving averages, with the next resistance near the 20-day moving average (around $3.02).

Disclaimer: This is not financial advice. Always conduct your own research and seek professional guidance.