XRP News Today: XRP Price Hovers Near Key Levels Amid Legal Uncertainty

XRP is currently at a pivotal moment, with its price hovering near the apex of a descending triangle pattern. This pattern is defined by a falling resistance line and a horizontal support level around $1.90–$2.00. The price has been oscillating within this range, with repeated tests of the support level and failed attempts to break through the resistance. The current price of $2.3664 reflects a minor decline, and the elevated trading volume indicates increased market participation and uncertainty.

The descending triangle pattern began to form after XRP reached a peak near $2.90 in early May 2025. Since then, sellers have consistently rejected upward price movements, resulting in a series of lower highs. Despite these setbacks, buyers have successfully defended the $1.90 support level multiple times, confirming its importance. However, none of these rebounds have been able to sustain upward momentum, leaving the market in a state of anticipation.

Legal developments have added to the volatility surrounding XRP. Ripple and the SEC recently filed a joint status report requesting a pause in appeals, pending a district court decision on a motion for an indicative ruling. This delay has pushed the decision date to August, creating further uncertainty in the short term. This pause may provide large institutions with a wider entry window while prices consolidate near $2.00.

A recent bearish candlestick, or "nasty candle," has appeared near current levels, indicating intense selling pressure and a potential continuation of the downtrend. This market reaction coincided with the legal update, leaving sentiment cautious as traders assess both chart patterns and court dynamics.

The $2.20 resistance level has emerged as a critical line for XRP. A confirmed breakout above this level could invalidate the bearish triangle pattern, while a decisive close below $1.90 would likely trigger a sharp move toward the $1.50–$1.60 range. This target is based on the height of the triangle, and the coming days may bring high volatility as XRP approaches a major breakout or breakdown point.

In addition to the descending triangle pattern, XRP is also navigating an ascending triangle pattern, which signals an imminent breakout. This pattern is characterized by a horizontal resistance level and an upward-sloping support level. The price of XRP has been oscillating within this triangle, with each touch of the support level resulting in a bounce back towards the resistance. The current price of $2.2572 hovers near a key inflection point, and a breakout above $2.30 may lead to a retest of the previous resistance zone at $2.45–2.60. However, if bearish momentum returns, support levels to watch include $2.10 and $2.00.

The Volume Oscillator (5,10) has shown a declining trend throughout May, bottoming out around –6.46%, which suggests waning buying interest during the latter half of the month. Multiple negative volume oscillator spikes indicate that selling volumes consistently outpaced buying, especially after the peak. However, the oscillator also bounced off its lows in early June, pointing to a modest recovery attempt.

The technical outlook for XRP remains mixed, with the current price action signaling a potential breakout or breakdown. The price remains well above key long-term supports around $2.00, which may serve as a floor for renewed accumulation. However, the failure to maintain higher highs signals weakening bullish momentum, and the recovery zone near $2.25 is acting as a short-term resistance.

In summary, XRP is at a critical juncture as it navigates both a descending and ascending triangle pattern, which signals an imminent breakout. The price action and volume oscillator analysis suggest a potential breakout above $2.30, but traders should remain cautious as bearish momentum could return. The key support and resistance levels to watch are $2.10, $2.00, $2.30, and $2.45–2.60. The legal developments and technical patterns create a complex landscape for XRP, with both opportunities and risks for investors.