The XRP is currently trading in a tight range and continues to struggle to break above the $ 2.25 level. While it is unclear whether any strong price movement can bring, some analysts June believes can mark the beginning of a new rally.
The attention is now moving to the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple. The next major date in the case is June 9, when the SEC is expected to submit a status report to the discussions. According to one researcher, the SEC may issue a notice to the Sunshine Act about a week before this date. That notice was a signal by an official vote to drop the appeal and lift the long injunction against Ripple.
If this happens, this should be done before June 9 to allow sufficient SEC time to terminate the documents in court. Based on this timeline, the next two to three weeks can be important for XRP.
As for the potential impact on XRP prices, the predictions remain mixed. While some expect a rally – maybe a 20% jump followed by a pullback – mothers say the market can retaliate sharply, and a sudden 3x move is not on the question.
XRP price evaluation
The XRP continues to show a weak bullish momentum, with a long -term bearish divergence that still affects its price movement. In the 3-day and daily charts, the token remains in a downward trend marked by lower highs and lower lows. While there was some short -term relief, the XRP had difficulty to maintain upward movement, similar to that of Bitcoin.
Currently, the XRP is trading near a support level between $ 2.15 and $ 2.17. If this support fails, the next level of the watch key is just above $ 2.00, followed by a weaker support area near $ 1.95. Handling above these levels is important to avoid further decline. Upside down, the resistance is seen around $ 2.35, with a stronger resistance between $ 2.45 and $ 2.50.
