XRP is currently trading in a tight range and continues to struggle to break above the $2.25 level. While it’s unclear whether May will bring any strong price movement, some analysts believe June could mark the beginning of a new rally.
Attention is now shifting to the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. The next key date in the case is June 9, when the SEC is expected to submit a status report on settlement discussions. According to one researcher, the SEC might issue a Sunshine Act notice about a week before this date. That notice would signal an official vote to drop the appeal and lift the long-standing injunction against Ripple.
If this happens, it must be done before June 9 to allow the SEC enough time to finalize court documents. Based on this timeline, the next two to three weeks could be important for XRP.
As for the potential impact on XRP’s price, predictions remain mixed. While some expect a rally—possibly a 20% jump followed by a pullback—others say the market could react sharply, and a sudden 3x move isn’t out of the question.
XRP Price Analysis
XRP continues to show weak bullish momentum, with a long-term bearish divergence still impacting its price movement. On the 3-day and daily charts, the token remains in a downward trend marked by lower highs and lower lows. While there has been some short-term relief, XRP is struggling to maintain upward movement, similar to what is happening with Bitcoin.
Currently, XRP is trading near a support level between $2.15 and $2.17. If this support fails, the next key level to watch is just above $2.00, followed by a weaker support area near $1.95. Holding above these levels is important to avoid further decline. On the upside, resistance is seen around $2.35, with stronger resistance between $2.45 and $2.50.
