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XRP faces key SEC deadline – Will prices break $2.38 or fall below…
XRP remains rangebound with traders maintaining positions despite low volume.
As the community braces for a critical court update, investor sentiment is caught between regulatory clarity and potential further delays. With a court-imposed deadline looming, the SEC is expected to update the Court of Appeals on its settlement talks with Ripple by June 16th, a potential turning point in the multi-year legal standoff.
While XRP’s spot volume has cooled significantly from its December highs, hovering at $5.09 billion at press time – a contrast to the $70B+ spikes seen during previous surges. Futures Open Interest remains elevated at $4.14 billion, indicating traders are not backing down.
The market is quietly bracing for volatility likely tied to the impending SEC litigation. While XRP’s price action remains range-bound, steady leverage exposure implies conviction either for a breakout or a breakdown. In short, sentiment is split, but positioning is anything but flat.
All eyes are on the SEC as the agency is expected to update the Court of Appeals on its settlement talks with Ripple by June 16th. If the SEC withdraws its appeal, XRP’s regulatory standing could be dramatically boosted and revive ETF hopes.
Polymarket odds reflect this optimism, pricing in an 88% chance of ETF approval by year-end.
XRP tests mid-band as momentum stalls
XRP hovered near the midline of its Bollinger Bands, showing signs of consolidation after failing to break above the upper band resistance. The price at press time – $2.25 – suggested a weakening bullish momentum, with the RSI at a neutral 49.23: neither oversold nor overbought.
Volume remained subdued at 16.05 million, reinforcing the market’s indecisiveness ahead of the SEC update.
If buyers regain control and push past $2.38, a retest of $2.60 could become likely. Conversely, a drop below $2.10 could trigger further downside.
Source: ambcrypto.com
