XRP Holds $2 Amid SEC Pause, 27% Breakout Potential

Ripple's XRP has maintained a price point of $2 following a pause in the legal proceedings with the Securities and Exchange Commission (SEC). This temporary halt in the SEC's appeal, which is now scheduled to resume on June 15, has injected a sense of optimism into the market. The pause has allowed for a potential $50 million settlement to be considered, which could significantly impact the future trajectory of XRP.

The current price stability at $2 has been bolstered by technical analysis, which suggests an inverse head-and-shoulders pattern. This pattern indicates a potential 27% breakout, targeting a price of $2.78. The bullish momentum is further supported by the pause in legal proceedings and the potential settlement, which has created a favorable environment for XRP.

However, the road ahead is fraught with challenges. XRP is facing stiff resistance at the 50-day and 100-day Exponential Moving Averages (EMAs), located at $2.07 and $2.09, respectively. These moving averages must flip into support to strengthen bullish conviction. Even then, XRP price must conquer the 200-day EMA at $2.16 and confirm a breakout past $2.20 to validate the pattern.

Indicators such as the Relative Strength Index (RSI) at 46.37 show fading momentum, and the Moving Average Convergence Divergence (MACD) is flashing a sell signal. If XRP dips below $2.00, support may be found at $1.96 – previous resistance turned support – or at $1.75, a level tested earlier in April.

The next 60 days will be crucial for XRP’s long-term outlook. A finalized SEC settlement could unleash new institutional interest, especially if it removes the lingering regulatory cloud. On the other hand, failure to hold above $2.00, combined with bearish technical cues, could push XRP toward a corrective phase. In the short term, traders should watch for a clear breakout above $2.20 or a slide below key support at $1.96 to gauge momentum shifts.

XRP price may be holding strong above $2.00 for now, but the battle is far from over. While the legal pause offers breathing room and fuels bullish hopes, technical indicators paint a mixed picture. Traders should remain cautiously optimistic, waiting for a confirmed breakout above $2.20 or clarity on the SEC settlement before diving in. Until then, XRP is dancing on a fine line between relief and retreat.