XRP News: Ripple’s XRP Struggles to Break Above $2.30 Despite Short-Term Bounce

Ripple’s XRP cryptocurrency has been facing challenges in breaking above important resistance levels, despite experiencing a slight bounce in the last 24 hours. Here’s a closer look at the current market situation and analyst predictions.

XRP Price News Today: Will Ripple Drop Below $2?

Ripple’s XRP is currently trying to bounce back above important resistance levels. The altcoin has gained more than 1% in the last 24 hours and is now trying to climb above the $2.30 mark. However, an analyst has warned that XRP is still in the midst of a bearish divergence, a pattern that has been developing for months. Despite some short-term bounces and signals of oversold conditions offering minor support, there has been no indication of a major bullish rally for XRP. Looking at XRP’s 8-hour chart, the price recently tested an area that was previously resistance, which is now acting as support in the range of $2.25 to $2.30.

XRP Price Prediction: XRP Set To Skyrocket As SEC Ripple Case Nears Conclusion

XRP is on the verge of a major breakout as the SEC lawsuit nears its conclusion, fueling Optimism for a price surge. With spot ETF approvals adding momentum, XRP could be primed for explosive growth. Meanwhile, Remittix (RTX) is gaining attention as a rising force in digital payments, drawing comparisons to XRP for its focus on seamless, low-cost transactions. As XRP regains strength, Remittix is positioning itself to mirror its success in the evolving payments sector. A potential resolution to XRP’s legal battle with the SEC is approaching, leading investors to watch for token price appreciation. The SEC has been on a retreat lately, backing down from legal actions against Uniswap and major crypto platforms like Coinbase, Robinhood, Binance, and OpenSea.

Why Buying Ripple (XRP) Right Now Might Not Be the Best Move

Due to recent price action, it may not be best for investors to choose Ripple (XRP). Currently trading at $2.5905, XRP has dropped 8.48% over the past month and 16.13% over six months. Despite its $149.96 billion market cap, Ripple has been slower in growing due to regulatory issues and competition from modern blockchain projects. On the other hand, Rexas Finance (RXS), trading at $0.20, offers stronger growth prospects with 90.83% of its presale sold, a CertiK audit completed, and a listing scheduled for June 19. RXS also has a $1 million giveaway and a thriving DeFi ecosystem, potentially leading to significant gains.

Ripple (XRP) Price Prediction: Will the SEC Approve Grayscale’s XRP ETF in March 2025?

As the U.S. Securities and Exchange Commission (SEC) prepares for a closed-door conference, the cryptocurrency market is buzzing with anticipation. Investors are closely monitoring the possibility of Grayscale Investment’s XRP Exchange-Traded Fund (ETF) being approved. With XRP currently trading at $2.18 and gaining traction, analysts foresee that heightened institutional interest and positive regulatory decisions could push its price to $10. Leading digital asset management company Grayscale has been advocating to convert its $12.7 million XRP Trust into a fully-fledged ETF, which would enable investors to trade XRP on the New York Stock Exchange.