XRP Coin‘s price, along with other subcoins rose until June 10, while again began to decline. This decline took place with the return of the crypto money market to red and the return of trade war concerns. Donald Trump’s new unilateral customs duties are shown as the main cause of this decrease. Meanwhile, the US Consumer Price Index (CPI) fell to 2.4 percent annually in May, which strengthened his hopes that the Fed could start again. However, despite all these positive developments XRP price It fell to 2.23 dollars by dropping 4 percent.
The effect of economic and political developments on XRP Coin
Negotiations between the US and China in London have made modest progress on rare land minerals and access to Chinese students on US universities. These developments reduced geopolitical tension and the decrease in tension is generally considered as risky assets such as XRP, BTC and ETH crypto currencyIt is considered positive for s.
However, this short -term optimism was damped by President Trump’s announcement of new unilateral customs duties perceived as worrying for the crypto money market. Trump’s move includes that final customs tax proposals will be sent to leading trade partners within two weeks. This statement had a negative impact on the market.
On the other hand, the arrival of the US CPI data below expectations (2.5 percent against 2.5 percent expectations) showed that the cooling of inflation continued. This supports the expectations that the Federal Reserve (FED) can take a break from interest rate hikes. This is XRP It is considered a positive development in the long run for all leading crypto currencies, including. In addition, on the XRP Ledger on the ondo finance, the US Treasury bills start and the speculation that will be approved by an XRP ETF in the future increases long -term interest in Altcoin.
Ripple – SEC Case and Critical on June 16
In addition to the wider economic factors affecting the price of XRP, the most critical interior factor Ripple $2.23It is the ongoing legal process of US Securities and Stock Exchange Commission (SEC). XRP investors’ eye is an important procedure date of the case 16 June‘in.
Ripple CEO Brad Garlinghouse He had already claimed that they had almost resolved the case. However, the judge for filing errors made by the parties within the scope of Rule 60 Analisa Torres He rejected a request of both sides. Now Selection‘s US Appeal Court needs to offer a situation update. Although this date is not a final decision date, the update to be presented may reshape the timing of the legal process.
Experts believe that June 16 may not lead to a large XRP price rally. The reason for this is the fact that optimism related to the legal process is largely reflected in prices. Still more delay of the process XRP Coin Price It can create downward printing on it. On the other hand, positive signals from the court can improve short -term market perception. The approval of Judge Torres will be required to officially approve any agreement, which may take time.
XRP analysis and strong relationship with Bitcoin
Currently XRP price, Bitcoin 
$107,041.02 with a high correlation of 0.91. This means that XRP’s price movements tend to follow Bitcoin’s movements closely. Analysts point out that Bitcoin should go above $ 112,000 in order for XRP to make a significant leap.
In the short term, the XRP price faced resistance to $ 2.33 and returned from this level. If Bitcoin price If it falls to 105 thousand dollars, the price of XRP is expected to decrease to 2.15 or even $ 2,10. However, if a recovery in Bitcoin will come together with a positive news from the court, it seems that the price of Altcoin will be able to rise above $ 2.33.
In general, the short -term appearance remains uncertain, while long -term investors continue their belief in the superior role in the crypto money market. For now, all eyes are both in Bitcoin’s performance and in the courtroom.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
