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Why did the price of XRP drop today?

While most major cryptocurrencies, including Bitcoin, seemed to be rallying back to the price of XRP, the price of XRP slipped into the red. It dropped 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 is currently surpassing $2.25, a critical Fibonacci retracement level and an important support area. XRP has historically tended to bounce from this area - a resistance for the markets that 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 also started to pick up. Supporters are particularly focused on June 16, a date that has become synonymous with potential decisions in the Ripple vs SEC saga. A large number of people seem to believe that a favorable outcome could serve as a very strong catalyst for XRP's next movement. XRP Price Prediction: What’s Next? From a technical standpoint, XRP is trying to recover from the key support area around $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. In shorter timeframes, particularly the 8-hour chart, XRP is showing signs of bullish divergence. While the price has dropped, momentum indicators like the RSI are quietly trending upward, suggesting a potential price increase in the near term. However, one wildcard could shake things up - the upcoming U.S. CPI inflation dataset being released within the next 24 hours. Depending on how these numbers land, market sentiment across Crypto, including XRP, could shift quickly.

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.

The cryptocurrency market is heavily disturbed again with rising speculation for the approval of the XRP ETF by the SEC soon. This increase in expectations comes directly after approval from the NCISU index, which includes XRP alongside other ALTs. As a result, the price of XRP Crypto has reached its highest level in June 2025 with an almost 10% rise in the last four daily sessions, and 4% within the day. Now, the growing optimism for XRP is flooding everywhere on X, where experts are now targeting a goal of no less than $20, if the main catalyst plays out well. Why does the growth of XRP prices depend on the lawsuit results? So far, the Ripple vs. SEC lawsuit has long been a major obstacle in suppressing XRP price movement over the years, and even today, its shadow still looms large. Although court rulings have leaned toward a positive outcome for Ripple, in favor of many arguments and suggestions made, its price action has been stuck around $2. There has yet to be a final conclusion to the legal battle before the crowd goes all-in on XRP. Furthermore, this legal decision is expected to announce the final ruling soon, as it was given 60 days with the deadline approaching on June 16. If the courts rule in favor, this could spark a new crowd in XRP price and possibly new investments. With the final ruling being heard, the odds of clearing the XRP ETF will accelerate as Franklin Templeton, which has filed an application for the XRP ETF classes for the Franklin XRP fund, has an intermediary deadline on June 17. This date is crucial as it will be after the final ruling. On this date, the SEC must submit a status report regarding progress toward resolving the case with Ripple. Both events are critical. If they end successfully in favor of XRP, reaching the previous ATH will be a piece of cake for the cryptocurrency. This makes June a key month to watch future movements in XRP price action. Additionally, there has also been progress in global liquidity, and as the stock market and Bitcoin are expected to advance, the price of XRP will rise alongside as one of the top 5. Guardian Arch could drive XRP price to $20 or beyond. Egrag published an analysis where his data shows on the monthly Guardian Arch chart, which he claims is critical for the upcoming rise. He highlighted previous movements in the Guardian Arch and expects this arch to respect future movements as well. He emphasized that this year in January, like previous movements when the arch resistance was hit, similarly, XRP met the arch at a price peak of $3.4 in January 2025. Based on his analysis, he believes XRP still has another leg in the current bull run. For every chart, by the end of the year, the measured move sets a target of $20 when XRP breaks the Guardian Arch. However, his chart highlights the possibility of a rise to $27. #xrp -The Guardian Arch ($20-$27): Key Goals and Strategy. Now, you should understand what I mean by targeting double digits. But please, I urge you, do not wait to sell just one target. Always take profits rationally and set clear and specific targets. I cannot emphasize this enough... pic.twitter.com/oriseszwic- egrag crypto (@gragcrypto) June 9, 2025 When these levels manifest, he believes the next phase could be harsh for XRP, possibly leading to a massive price drop. According to him, the downward trend could resemble the decline of 2021, leading to an 86% drop. Therefore, he urges caution and periodic profit-taking for investors. Don't miss any beat in the crypto world! Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, Altcoins, DeFi, NFTs, and more.

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The cryptocurrency market has returned to action today, with a sharp rally across major coins such as Bitcoin, Ethereum, and Solana. At the time of writing this report, the total market capitalization of crypto surged to $3.43 trillion, indicating a healthy rise of 4.22% over the past 24 hours. Investor sentiment has also turned positive. The Fear & Greed Index now reads 64, firmly in the 'greed' zone - a clear sign that traders feel confident in the market direction. So, what is fueling this rally? Let's break it down. Bitcoin leads the charge. The star of the show is Bitcoin, which has finally broken out of a consolidation range it has been stuck in since May 23. Currently trading above $109,500, Bitcoin's breakout is being closely watched by analysts. This move was expected due to the formation of bullish weekly candles called a 3D pattern around the $100,000 mark. Historically, this type of setup often leads to an 8-10% pump within a week or two. If the momentum continues, some analysts believe Bitcoin may soon touch $115,000 - or higher. Global factors are also in play. Aside from technical signals, positive news on the macro front is also aiding the rally. Reports indicate that trade talks between the U.S. and China have resumed, easing global market tensions. This, along with increasing institutional interest, has bolstered investor confidence. Altcoins follow suit. After Bitcoin's advance, altcoins are also climbing. Ethereum has risen over 8% this week, now trading at $2,699, while Solana and DogeCoin have increased by 5% and 6.6% respectively. Interestingly, SUI (SUI) and Hyperleliquid (HYPE) have recorded impressive double-digit gains. However, the Altcoin Season Index is still at 30 out of 100, indicating that although altcoins are rallying, the overall Altcoin season has not yet arrived.