XRP is currently trading in a narrow range and continues to struggle to break the highest level of $ 2.25. Although it is unclear whether it may bring any strong price movement, some analysts believe that June could represent the beginning of a new march.
Attention is now moving to the ongoing legal battle between the US Securities Committee and the American Stock Exchange (SEC) and Ripple. The date of the next key in the case is June 9, when SEC is expected to submit a case report on settlement discussions. According to one of the researchers, the Securities and Stock Exchange may issue a notification from the sunlight law a week before this date. This notice will indicate an official vote to drop the appeal and raise the long barbaric order against Ripple.
If this happens, this should be done before June 9 to allow SEC enough time to end the court documents. Based on this schedule, it may be two to three weeks important for XRP.
As for the possible effect on the price of XRP, predictions remain mixed. While some expect a crowd – it is likely to jump by 20 % followed by withdrawal – mothers say the market can interact sharply, and that a sudden 3X step is not possible.
XRP price analysis
XRP continues to show the momentum of the weak rise, with a difference in the long -term landing still affects the movement of prices. In 3 days and daily charts, the distinctive symbol remains in a declining direction characterized by the highest low levels and lower lower levels. Although there is some relief in the short term, XRP is struggling to maintain an upward movement, similar to what is happening with Bitcoin.
Currently, XRP is trading near the support level between $ 2.15 and $ 2.17. If this support fails, the next main level of viewing is just higher than $ 2.00, followed by a weaker support zone near $ 1.95. Adherence to these levels is important to avoid more decrease. On the upper side, the resistance is seen about $ 2.35, with stronger resistance between $ 2.45 and $ 2.50.
