Rippleโs XRP is gearing up for a potentially explosive week as two major catalysts โ a crucial court decision and a looming ETF deadline โ could spark a major price breakout. ๐ฅ
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โ๏ธ Legal Battle Nearing Conclusion?
Ripple and the SEC jointly filed a motion on June 12, requesting Judge Analisa Torres to issue an indicative ruling that could:
Lift the injunction on institutional XRP sales ๐โก๏ธโ
Reduce Rippleโs penalty from $125M to $50M ๐ธ
Possibly end all appeals if granted ๐ค
This could finally close the chapter on a legal battle thatโs loomed over XRP since 2020.
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โณ ETF Decision Approaching Fast
The deadline for Franklin Templetonโs spot XRP ETF is set for June 17 ๐๏ธ.
If approved, this would mark a historic milestone, making XRP one of the first altcoins after Bitcoin and Ethereum to gain ETF approval. โ ๐
Odds of approval in 2025 are high (~88%), but short-term approval chances this month are slimmer (~26%) โ still, investors are watching closely. ๐
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๐ Market Action: Calm Before the Storm?
XRP is currently trading between $2.17 and $2.26, forming a tight coil between support at $2.09 and resistance at $2.33 ๐.
This type of setup often precedes major moves โ either a breakout or a breakdown.
๐ Bullish Scenario:
Break above $2.33 could push price to $2.50+
๐ Bearish Risk:
Drop below $2.20 may lead to $2.10 or lower
Technical indicators like RSI (~49) and narrowing Bollinger Bands suggest increased volatility is coming soon โ ๏ธ.
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๐ง What to Watch This Week:
๐จโโ๏ธ Judge Torres' ruling (any day now)
๐ SEC update to appeals court โ due June 16
๐ผ Franklin Templeton ETF decision โ due June 17
๐น Breakout or breakdown in XRP price charts
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๐ฏ Final Thoughts
XRP is sitting at a make-or-break moment โ with legal clarity and ETF approval potentially aligning, a major price surge could be on the horizon. ๐
But if delays or setbacks occur, expect short-term selling pressure. ๐
Strap in โ this week could be the one XRP investors have been waiting for. ๐ซ๐ #XRP #CryptoNews #Ripple #ETFs #CryptoMarket $XRP