XRP has formed a higher low after rebounding from the $2.08 level. This hints at underlying bullish strength, but resistance looms near $2.55 and $2.70, levels that have capped previous rallies.
A breakout above $2.32 could signal renewed momentum, while a drop below $2.27 might test lower support.
The MACD has recently completed a bullish crossover, with the MACD line crossing above the signal line, indicating potential short-term upside. Additionally, the 50 EMA is nearing the 100 EMA, forming a mini-golden cross a pattern often associated with bullish continuation.
Market News:
Several developments are shaping XRPâs outlook. Ripple recently gained regulatory approval from Dubai, a move that could enhance XRPâs adoption and bolster investor confidence. Rumors of a spot XRP ETF, potentially launching in June 2025 with an SEC decision deadline on June 17, are also stirring excitement, approval could drive significant demand. However, the unresolved SEC lawsuit remains a dark cloud.
While Ripple has scored some legal wins, any adverse ruling could spark selling pressure. Regulatory headlines will likely play a pivotal role in XRPâs near-term trajectory.
XRPâs 4H chart presents a cautiously optimistic picture. Technicals lean bullish, with the MACD crossover and EMA alignment suggesting upside potential, especially if $2.32 resistance gives way. Positive catalysts like Dubaiâs approval and ETF speculation could fuel gains, possibly targeting $2.55 or higher. That said, the SEC case introduces uncertaintyâtraders should brace for volatility if legal updates emerge. Key levels to watch: $2.32 for a breakout, $2.27 as near-term support, and $2.08 as a deeper floor.