While most major cryptocurrencies, including Bitcoin, seemed to be rallying back to the price of XRP, the price of XRP slipped into the red zone. It fell to $2.28 just as Ripple Labs announced a major partnership deal with Guggenheim Partners. With sentiment in the markets seemingly improving, this sudden unexpected drop leaves many traders feeling uneasy. However, from a technical perspective, there is still some good news for XRP holders, as they believe it currently exceeds $2.25, which is a crucial Fibonacci retracement level and an important support area. Historically, XRP tends to bounce back from this area - resistance for the markets tends to behave in a repetitive manner. For now, this area is likely to serve as a buffer for the token. On-chain activity has started to pick up as well. Advocates are particularly focused on June 16, a date that has become synonymous with potential decisions in the Ripple vs. SEC saga. A significant number of people believe that a favorable outcome could serve as a strong catalyst for XRP's next move. Predicting XRP's price: What’s next? From a technical standpoint, XRP is trying to recover from the key support zone between $2.10 and $2.25. Immediate resistance levels are marked at $2.34 and $2.44, with stronger resistance near $2.60. Other traders are looking for a potential double bottom pattern on the charts, which would be a bullish pattern if confirmed. On shorter timeframes, particularly the 8-hour chart, XRP shows signs of bullish divergence. While the price has fallen, momentum indicators like the RSI are quietly trending upwards, indicating a potential price increase in the near term. However, one wild card could shake things up - the upcoming U.S. CPI inflation data set to be released in the next 24 hours. Depending on how these numbers land, short-term market sentiment across crypto, including XRP, could shift quickly.