XRP is currently negotiated in a tight range and continues to fight to exceed the level of $ 2.25. Although it is not clear if May will bring a strong price movement, some analysts think that June could mark the start of a new gathering.
The attention is now going to the current legal battle between the American Securities and Exchange (SEC) and Ripple commission. The next key date in the case is June 9, when the SEC should submit a situation report on settlement discussions. According to a researcher, the SEC could issue an opinion on the law on the sun about a week before this date. This notice would point out an official vote to abandon the appeal and raise the longtime injunction against Ripple.
If this happens, this must be done before June 9 to allow the dry enough time to finalize the court documents. Based on this calendar, the next two to three weeks could be important for XRP.
As for the potential impact on the price of XRP, the predictions remain mixed. While some expect a rally – a 20% leap followed by a decline – the others say that the market could react strongly, and a sudden 3X blow is not out of the question.
XRP price analysis
XRP continues to show a low bullish momentum, with a long -term divergence in the long -term always having an impact on its price movement. On 3 -day and daily cards, the token remains in a downward trend marked by lower ups and lower stockings. Although there has been a certain short -term relief, XRP is struggling to maintain the movement upwards, similar to what is happening with Bitcoin.
Currently, XRP is negotiated almost a level of support between $ 2.15 and $ 2.17. If this support fails, the level of key to monitoring next is just above $ 2.00, followed by a lower support area almost $ 1.95. Holding above these levels is important to avoid a new drop. Uplining, the resistance is observed around $ 2.35, with a stronger resistance between $ 2.45 and $ 2.50.