XRP Slides 2.1% Amid Ripple Unlock Delay, Market Weakness, and SEC Lawsuit Anticipation

XRP's price declined by 2.10% over the past 24 hours, opening at $2.2515 and currently trading at $2.2042 on Binance. The price drop is primarily attributed to increased selling pressure following the delayed unlock of 1 billion XRP by Ripple, with 670 million XRP re-locked in escrow, as well as broader crypto market weakness, which saw a 3% contraction in global market capitalization. Additional volatility stems from ongoing anticipation around the Ripple vs. SEC lawsuit, with a potential resolution expected by June 13, and mixed sentiment regarding a possible spot XRP ETF decision due by June 17. Despite positive institutional news, such as Webus filing for a $300 million XRP treasury reserve, short-term technical indicators remain neutral to slightly bearish, with the RSI at 48.28 and the Fear & Greed Index reflecting cautious optimism. Trading volume over the last 24 hours ranged from $1.94 to $2.48 billion, with a market cap of approximately $132.6 billion and circulating supply at 58.76 billion XRP.