XRP Price Prediction & Analysis: Coiling for Explosive Breakout, When?

TLDR

XRP price currently trading near $2.35, down 1.4% daily and 8.3% weekly SEC has delayed decision on 21Shares XRP ETF application Trading volume decreased 15.9% to $2.67 billion Technical indicators show mixed signals with short-term bearish pressure Price faces resistance at $2.3650 with potential breakout targets at $2.45-$2.50

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XRP (XRP) is currently trading at approximately $2.35, having declined 1.4% over the past 24 hours and 8.3% over the last week.

This price action comes as the U.S. Securities and Exchange Commission (SEC) announced on May 20 that it would delay its decision on the proposed 21Shares Core XRP Trust ETF.

The agency is extending the review period to evaluate compliance with Exchange Act requirements regarding protections against fraud and market manipulation.

The SEC emphasized that this delay allows for further analysis and public input rather than representing a final judgment. Rebuttals must be submitted within 35 days of the Federal Register publication, with the comment period lasting 21 days.

Trading activity for XRP has slowed considerably. Spot trading volume has dropped to $2.67 billion over the past day, representing a 15.9% decrease from the previous day’s figures.

XRP Price

Derivatives Market Reflects Cooling Interest

Derivatives data further supports the narrative of waning momentum. According to Coinglass, open interest in XRP derivatives has fallen 3.14% to $4.58 billion, while futures volume saw a steeper decline of 28.45% to $4.24 billion.

The reduction in open interest indicates traders are closing positions rather than opening new ones, often a sign of diminished confidence in short-term price movements. Meanwhile, the sharp drop in volume points to decreasing speculative interest in the market.

Bloomberg ETF analyst James Seyffart described the SEC delay as “expected,” noting that early approvals for any crypto spot ETFs, including XRP or Solana, are unlikely before late June or early July. More realistically, approvals might come in early Q4.

Technical analysis for XRP reveals a mixed picture. The price is currently near the lower band of the Bollinger indicator, suggesting cautious market activity. With an RSI value of 52, momentum indicators remain in neutral territory.

Short-term moving averages signal weakness, with both the SMA and 10-day EMA pointing to bearish pressure. However, longer-term indicators tell a different story, as 20-day to 200-day EMAs and SMAs continue to flash buy signals.

XRP faces immediate resistance near $2.3650, with a bearish trend line forming at this level. The first major resistance sits around $2.3850, near the 76.4% Fibonacci retracement level of the recent downward move.

If the price breaks above $2.38 and maintains momentum past $2.61, it could signal further upside potential, targeting higher resistance zones. A clear move above $2.420 might push the price toward $2.450 or even $2.550 in the near term.

Conversely, if XRP falls below its 20-day SMA at $2.34, it could test support at $2.26 or possibly $2.06, increasing the likelihood of continued downward pressure.

The cryptocurrency previously formed a low at $2.3157 before attempting to recover. The price has moved above the $2.335 and $2.350 levels, testing the 50% Fibonacci retracement level of the downward move from the $2.4068 swing high.

For now, market participants appear to be in a wait-and-see mode, with both technical and regulatory signals providing conflicting hints about XRP’s next major move.

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