XRP is currently trading in a narrow range and continues to struggle to break above the $2.25 level. While it is unclear whether May will bring any significant price volatility, some analysts believe that June could mark the beginning of a new bullish phase.
Attention is now turning to the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. The next important date in the case is June 9, when the SEC is expected to file a status report on settlement discussions. According to one researcher, the SEC may issue a Sunshine Act notice about a week before this date. That notice would signal an official vote to dismiss the appeal and lift the long-standing ban on Ripple.
If this happens, it must be done before June 9 for the SEC to have enough time to finalize court documents. Based on this timeline, the next two to three weeks could be crucial for XRP.
Regarding the potential impact on XRP's price, predictions remain mixed. While some expect a price rally—possibly a 20% increase followed by a pullback—others suggest that the market could react strongly, and a sudden tripling move is not out of the question.
XRP Price Analysis
XRP continues to show weak upward momentum, with long-term bearish divergence still affecting its price volatility. On the 3-day and daily charts, the token remains in a downtrend marked by lower highs and lower lows. Although 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 the support level of $2.15 to $2.17. If this support level fails, the next key level to watch is just above $2.00, followed by a weaker support zone near $1.95. Holding above these levels is crucial to avoid further declines. On the upside, resistance is observed around $2.35, with stronger resistance between $2.45 and $2.50.