XRP currency has seen relative stability today at a price around $2.32 after a slight increase from the previous close. The market shows moderate buying momentum with trading volume exceeding $2.8 billion, indicating increasing interest from institutional and individual traders. One of the main current catalysts is the anticipation of the U.S. Securities and Exchange Commission (SEC) report regarding developments in the case with Ripple, expected to be released on June 16. Any indications of a settlement could propel the currency to a strong rise, especially if accompanied by positive developments regarding the ETF approval for XRP, which the markets currently predict a high likelihood of approval. This event represents a potential turning point that could push the price to levels exceeding $3 if confirmed. On the other hand, Ripple has launched strategic partnerships in Japan with a Web3 platform backed by JETRO, aimed at enhancing the use of the XRP Ledger in DeFi projects, adding a practical dimension and real value to the network. Technically, the price is noted to be holding above an important support area near $2.20 while continually testing the resistance area at $2.30, as breaking through it could pave the way for higher targets at $2.50 and then $2.80 in the short term. Technical indicators such as the MACD and moving averages suggest a bullish trend supported by buying signals and a relative increase in momentum. Additionally, significant activity has been observed from whales, with approximately 498 million XRP transferred from Ripple-owned wallets to private wallets, which could indicate repositioning or preparation for upcoming price movements. Overall, the current stronger scenario leans towards positivity, conditioned by the outcomes of upcoming events this week, including the SEC report, ETF support probabilities, and continued practical partnerships with financial and tech institutions in Asia. Therefore, traders are advised to monitor the levels of $2.17 as a main support and watch for any breakout above $2.35 as a confirmation buying signal while adjusting entry and exit strategies based on real-time market developments.
