🟦XRP’s price has dropped sharply, erasing its May gains and approaching the critical support level of $2.12. A rise in the Coin Days Destroyed metric indicates selling pressure from long-term holders, while the RSI in bearish territory confirms weakening demand. Historically, June has been a loss-making month for the token, adding to the downward pressure.
🟦However, the market is awaiting the outcome of Ripple’s legal battle with the SEC and the potential for a public listing. These developments, along with the prospect of a new major investor, could shift sentiment. If XRP holds above $2.12 and breaks through $2.27, the path toward $2.50 may reopen.