from Ripple and the SEC for an indicative ruling. This legal update immediately impacted the market, causing the price of XRP to drop to $2.09 before recovering slightly to around $2.10. The token saw a 5% dip following the news.

XRP’s overall price trend still leans bearish. The coin continues to make lower highs and lower lows, a pattern that signals weakness in the market. While small price jumps can happen even in a downtrend, a proper trend reversal would require XRP to start forming higher lows and eventually break past previous highs.

At the moment, XRP is struggling to break through an important resistance zone between $2.19 and $2.20. If the price does manage to move above $2.20 with a strong daily close, the next target area would be around $2.30 to $2.35. A breakout past this point would signal a much stronger bullish trend and could open doors for a rally towards $2.60.

On the downside, the key support zone to watch is between $2.05 and $2.10. If XRP falls below this, the next support would be around $1.92 to $1.95. Right now, momentum remains weak, with short-term gains appearing within a generally bearish market structure.

For this bullish scenario to stay intact, XRP needs to hold above the $2.08 support area. If the price drops below this, it increases the risk of the market making a fresh low. If that happens, the focus would shift to the bigger support level around $1.79.

At the moment, while Bitcoin has already shown signs of forming five waves up, XRP has yet to do the same. Until clearer signs of strength appear, experts are watching for signs of support holding and any move that could lead to a fifth wave upward.