XRP Lawsuit: Key Takeaways from Hinman Report Fallout as XRP Eyes $2.08 Breakout

The long-awaited IG report regarding Bill Hinman’s Ethereum speech has only increased frustration in the Ripple community. Many thought the report would clarify the status of their ongoing XRP lawsuit. However, it did the opposite. Legal experts like John Deaton and MetaLawMan have criticized it for being vague and biased, and now there is even more uncertainty surrounding Ripple’s ongoing battle with the SEC.

Experts Call Out the IG’s Report for Inconsistencies

John Deaton, a prominent member of the Ripple community, expressed dissatisfaction with IG’s report and pointed out inaccuracies and possible bias in the report. Deaton remarked on the determination that Hinman’s ownership of ETH did not create a conflict of interest, which is obviously against SEC policy. He also noted Hinman met with representatives of interested parties, as it relates to Ethereum, which created concern about the impartiality of the report/ investigation, which is consistent with a widespread sentiment in the Ripple community regarding the report.

What’s Next for XRP as Settlement Talks Continue?

As the case moves forward, the question on everyone’s mind is: What comes next? The SEC recently dropped its appeal, and Ripple withdrew its cross-appeal, leaving many to speculate that a settlement could be close. But with the IG’s report still fueling controversy, the road ahead remains unclear. Although the Ripple community is looking for clarity, it is impossible to know what will happen next with so many questions left unanswered. While we can continue to follow the legal drama, traders should pay attention to certain levels and trends, as market sentiment can quickly sway in either direction based on developments in the case.

XRP Price Action Analysis of April 12th, 2025

The XRP Price on a 5-minute chart presents a detailed picture of evolving bullish and bearish patterns. Early in the session, price action followed a rising channel, followed by consolidation, forming an ascending triangle, a continuation pattern suggesting building bullish momentum. A sharp spike post-breakout confirmed the upward pressure, but it was short-lived as XRP price soon faced strong resistance near the $2.064 mark. The RSI confirmed overbought conditions multiple times, indicating temporary exhaustion of buying momentum. This was followed by a pullback toward the identified support zone near $1.9800. MACD readings corroborated these shifts with clear golden and death crossovers during momentum reversals. 

Chart 1, Analyzed by Alokkp0608, published on April 12th, 2025

Notably, the death crosses aligned well with RSI overbought conditions, strengthening the bearish correction signals. As the price stabilized near support, a new bullish channel began forming, showing sustained higher lows and steady volume recovery. The RSI returned from oversold territory and gradually climbed above the 50 level, suggesting strengthening buyer interest. MACD golden crosses during this phase supported the upside recovery. Price climbed steadily back above $2.040 and is currently holding near $2.065, just below the key resistance level of $2.08. The market remains range-bound between the support and resistance zones, making breakout direction critical.

Conclusion: XRP Holds Steady Amid Legal Uncertainty

Despite all the legal drama surrounding the Hinman report and the unresolved XRP lawsuit, the XRP price action is showing a bit of quiet confidence. Momentum indicators like RSI and MACD are starting to lean bullish, and the recent formation of a new rising channel hints that buyers aren’t backing down just yet. That said, the $2.08 resistance level is still a tough nut to crack. With the lawsuit still in play, any major news could send the price swinging either way. For now, XRP seems to be holding steady in a tight range, and whichever way it breaks next could set the tone for what’s coming.