XRP Pulls Back After Reaching $0.60, but Hope Remains for Ripple Settlement

• XRP pulled back about 15% after climbing above $0.6 for the first time since April.
• The altcoin gained 67% in less than two weeks in the recent rally.
• Experts believe Ripple and the SEC are keen to settle the ongoing litigation soon.

XRP pulled back about 15% after climbing above $0.60 for the first time since April. The pullback followed an impressive rally that saw the embattled altcoin gain 67% in less than two weeks as users anticipated a resolution to the ongoing case between Ripple and the U.S. Securities and Exchange Commission.

The recent XRP rally was sparked after the SEC announced a date for a closed-door meeting, with an agenda that included discussions of the case with Ripple. Crypto community members speculated that the SEC wanted to finalize a settlement with Ripple, ending the protracted court case.

Ripple’s recent pullback occurred after an alleged postponement of the meeting, suggesting the case could last longer than expected. XRP dropped from the recent $0.63741 local high to $0.54043 before rebounding, according to data from TradingView.

Meanwhile, in a recently uploaded video, Cheeky Crypto’s Nick noted that many crypto traders…

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