The XRP price which was rising till June 10th alongside other altcoins, has slipped once again. This happned as the crypto market turned red as trade fears made a comeback.
This fall mainly arrived due to Donald Trump’s newly confirmed unilateral tariffs, which will be imposed within two weeks. In the due time, he plans to send final tariff offers to top trade partners.
This bearish market mover news came right after the U.S. – China that handshaked in London which saw modest progress. Where the said, key agreements include access to rare earth minerals and Chinese student access to U.S. universities.
Such developments reduce geopolitical stress and it is typically good news for risk assets like XRP and others like BTC and ETH. However, the optimis in short-term fell short, due to Trump’s pessiistic play for the crypto sector.
Cooling Inflation, But XRP Price Drops
Meanwhile, U.S. CPI for May cooled to 2.4% YoY, below the 2.5% forecast. This strengthens hopes the Fed might pause interest rate hikes. It is an long-term positive update for entire top crypto and altcoin’s like XRP.
On the blockchain front, XRP Ledger now supports tokenized U.S. Treasuries via Ondo Finance.
Similarly, the speculation about future ETF listings also adds long-term appeal to XRP price.
Despite this positive developments, XRP price suffered 4% to $2.23. As the token mirrored broader crypto losses amid renewed market caution.
Ripple vs. SEC: Eyes on June 16
Apart from these broader updates, the one that is most crucial is XRP’s internal lawsuit issues. On this issue, the XRP holders are focused keenly on date June 16, which is a key procedural date in Ripple’s ongoing legal case.
Earlier, Ripple CEO Brad Garlinghouse claimed the case was nearly resolved. However, Judge Torres rejected a motion from both parties due to filing errors under Rule 60.
Now, the SEC must submit a status update to the U.S. Court of Appeals. Though not a final verdict date, this update could reshape the legal timeline.
Still, any settlement will need Judge Torres’s formal approval, which could take time.
XRP Price: What Comes Next?
Experts believe June 16 might not bring a major XRP price rally. Much of the legal optimism is already priced in by investors.
But, a further delay could put downside pressure on the XRP price. On the other hand, positive signals from court might lift short-term sentiment.
Moreover, currently, XRP price shows a 0.91 correlation with Bitcoin. This means XRP tends to track Bitcoin’s moves closely, and could wait for BTC to push beyond $112K, before XRP price makes an big leap.
Recently, in short-term, it faced rejection at $2.33. If Bitcoin falls to $105K, XRP price may slip to $2.15 or even $2.10.
However, a Bitcoin rebound and favorable legal update could push XRP price past the $2.33 resistance zone.
Overall, it appears that the short-term outlook remains uncertain, while the long-term holders still believe in XRP’s role in crypto finance. For now, all eyes are on Bitcoin and the courtroom.
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FAQs
Possibly, but experts say most legal optimism is already priced in unless major settlement progress is revealed.
New tariffs increase market fear, reducing risk appetite and pulling XRP and altcoins down alongside broader crypto.
XRP has a 0.91 correlation with Bitcoin, meaning it closely tracks BTC’s price movements and overall market direction.
A BTC rally past $112K and favorable court updates could help XRP break the $2.33 resistance level in the short term.
