This may be the last chance to grab XRP at the current low price: here's why. ๐งต
XRP's next big breakout or the final calm before the storm could be a foregone conclusion. This optimism relies on three major events coming in June. The current price range could be the last entry point before another strong move, a sentiment echoed by the Uphold exchange.
One of the most closely watched dates is June 17, when the Securities and Exchange Commission (SEC) may issue a ruling on Franklin Templeton's spot XRP ETF filing.
Anticipation has instead grown as the original May decision window was missed. There are currently at least 10 XRP ETF filings with a final ruling due in October.
SEC approval could push XRP into the mainstream financial ecosystem, much like Bitcoin soared in January 2024 after the ETF was approved.
While the launch of the Ether ETF will have less of an impact in mid-2024, XRP's unique utility for cross-border payments and growing institutional attention could trigger a more dramatic price reaction.
Almost simultaneous with the ETF resolution is the June 17-18 meeting of the Federal Open Market Committee (FOMC).
Traders are watching closely for a possible rate cut. Risk assets such as cryptocurrencies could benefit if the Fed adopts a more dovish policy in response to mounting economic pressures or global trade tensions.
Torrents such as XRP typically outperform in liquidity-driven rallies, as investors have sold off large-cap assets such as bitcoin in search of higher upside. Specifically, a rate cut could inject new momentum into the cottage currency space.
The third key point is XRPL APEX, the annual XRP Developer Summit scheduled for June 10-12 in Singapore. The event will bring together Ripple executives and leading developers to discuss the future of the XRP ledger (XRPL).
The agenda hints at major updates, including integration with artificial intelligence, cross-chain interoperability, DeFi, and real-world asset tokenization.
If Ripple launches any major products or partnerships, investor confidence in XRP could soar, driving a potential rise in XRP.
XRP has already demonstrated its ability to rise quickly, surging from $0.50 on Election Day 2024 to a high of $3.39 in just two months.
It has since consolidated between $2 and $2.50. In the meantime, many traders have been on the sidelines, waiting for a clear signal.
โJune could be the make or break for XRP.โ
As May draws to a close, market participants may be waiting for their last chance to buy XRP at a price below $3. The convergence of these three key catalysts in a short period of time leads us to believe that the upcoming month of June could mark a new breakout point for XRP, much like November 2024 did.