XRP is currently trading at $2.22, reflecting a modest 3.48% gain over the past 24 hours. Despite the uptick, the asset is still down 4.20% over the past week. Trading volume has surged to $2.51 billion, marking a notable 24.34% increase, hinting at rising trader interest. Yet the price remains locked in a tight range.
Analysts suggest XRP is in a consolidation phase. Price movement has tightened within narrowing bands. Technical indicators like the RSI at 35.71 show oversold conditions. Momentum is fading, as seen in the -1.33% decline in price energy. A low Bollinger Band width hints at incoming volatility. A negative MACD crossover calls for caution.
XRP downtrend confirmed by DMI and ADX
The DMI values for XRP are 10.0/37.5 with an ADX of 57.9, and these confirm the strength of the downtrend. However, priced above the $2.17 support zone, traders wait for a potential reversal setup. The volume ratio at 0.65x indicates that selling pressure is easing off. This could be a possible accumulation area around the support level.
Key levels are in focus. XRP would negate any bullish setup if it dropped below $2.15. A bounce off $2.17 could be followed by tests of resistance in the range of $2.23-$2.25. A successful breakout may push price toward $2.27. With volatility quite low at 2/10 and liquidity high at 8/10, risk is well managed. Remaining cautious, traders should also be vigilant.
Legal outcome will impact XRP price and trust
Ripple’s legal team Bill Morgan has recently refuted the claims of regulatory ambiguity. On June 1 he reiterated that XRP was not considered a security in the 2023 ruling. That particular distinction, and unlike Bitcoin, reinforces Ripple’s legal position but the pending SEC lawsuit continues to inject uncertainty into the market.
Price predictions for XRP are highly divergent. According to DigitalCoinPrice, the cryptocurrency will hit a high of $3.84 in 2025. Changelly sets a much lower maximum of $2.16. Mid-way through 2025, it expects $2.46. Although all these targets are so different, they all agree on higher volatility. The legal outcomes will significantly affect price stability and investor confidence in the future.
