- XRP trades near $2.14, facing strong bearish pressure after dipping below the $2.20 support level.
- Technicals show consolidation near $2.09–$2.20 with RSI below 50 and momentum favoring bears.
- Analysts predict a potential crash to $1.55 or a bullish surge toward $8–$13 by July.
XRP is hovering within the $2.00 to $2.18 range, a zone now considered a crucial support level by analysts. Technical analysts warn that this range may not hold much longer. The price action continues to show a pattern of lower highs, indicating that the downtrend may intensify if bullish catalysts remain absent.
LAP Capital reports that XRP’s daily chart is displaying ongoing bearish momentum. Buyers are trying to defend the $2.00 level, but failure to sustain it could trigger a sharper correction. Without fresh fundamentals, such as legal relief or impactful partnerships, XRP risks sliding further into bearish territory in the coming days.
XRP Struggles Near $2.14 Mark
XRP is currently priced at $2.14 with a 0.15% gain in 24 hours, reflecting extreme short-term volatility. CoinMarketCap data shows multiple price swings between $2.00 and $2.18 recently, signaling indecision in the market. The altcoin struggles to gain traction, suggesting a lack of direction among short-term traders and whales.
An earlier rally this week pushed XRP close to $2.18, but it was short-lived, followed by a decline back to $2.00. Although the price bounced from that level, the lack of strong buying volume made this rebound weak. Analysts agree that unless momentum improves, sellers will continue to dominate this price zone.
The 24-hour trading volume has plummeted by nearly 38%, now sitting around $1.95 billion. Despite reduced activity, community sentiment remains overwhelmingly bullish—88% of over one million voters still expect a recovery.
Ripple Eyes Breakthrough in SEC Case
Ripple has achieved a breakthrough in its legal battle with the SEC, as the regulator has opted to withdraw its appeal against Ripple Labs. Meanwhile, Ripple and the SEC have filed a joint motion to throw out a ban that stops business XRP sales.
They have further suggested that the $125 million in civil penalties be reallocated to the parties $50 million to the SEC and $75 million to be returned to Ripple. This signs the stand-off in long-pending legal proceedings between the two parties is finally over.
The court previously rejected a similar motion in May, but the new request cites “exceptional circumstances,” including a finalized settlement. The lawyer Bill Morgan believes that Judge Torres could be inclined to grant the motion to close the case.
Read More: XRP Struggles Near $2.14 as Bears Maintain Aggressive Momentum