The XRP bulls are still not ready to give up control of the support line at $2.00, indicating consolidation before another bullish phase.

The legal battle between the SEC and Ripple is nearing its final resolution, with a joint request for an extension on the appeals in the case approved.

The cryptocurrency community expects Paul Atkins to take the oath as SEC chairman and his swift decisions on XRP ETF requests.

XRP faces increasing downside risks below $2.00, with the Relative Strength Index (RSI) remaining stuck below the midpoint and heading towards the oversold territory.

Ripple's (XRP) price is hovering above the critical level of $2.00 while trading at $2.05 at the time of writing this report on Friday, reflecting a neutral sentiment across the cryptocurrency market. Investors have tempered their expectations amid the trade war initiated by U.S. President Donald Trump, which has significantly turned into a larger trade war between the U.S. and China. XRP bulls have shown resilience despite changing macroeconomic factors, suggesting that a bullish turnaround may be imminent.