XRP Maintains Support Above $2.10 Amid Regulatory Tension
The XRP price remains resilient above the $2.10 level, despite legal uncertainty surrounding Ripple’s ongoing battle with the U.S. SEC. As of June 14, XRP is trading near $2.15, holding its ground after a pullback from the recent $2.30 high.
The price action comes as Ripple and the SEC jointly seek an āindicative rulingā from Judge Analisa Torres ā a rare legal move aiming to reopen a decided case. Legal experts have raised questions about the strength of the motion, citing the lack of āexceptional circumstancesā typically required for reconsideration.
RLUSD Minting Resumes as Ripple Eyes Stablecoin Expansion
Adding momentum to Ripple’s broader strategy, the company has resumed minting its RLUSD stablecoin, pausing earlier in April to stabilize market conditions. Current circulating supply stands at 425.74 million tokens, with a market capitalization of $425.54 million.
The move signals Rippleās growing focus on the stablecoin market, especially as the U.S. Senate prepares to vote on the GENIUS Act, a bill that could shape the legal framework for stablecoin regulation. Rippleās proactive approach positions RLUSD to gain traction ahead of potential legislative shifts.
XRP Technical Analysis: Resistance at $2.22 Remains Key
From a technical standpoint, XRP is facing near-term resistance at the $2.20ā$2.22 zone, where previous rallies have met selling pressure.
- The RSI stands at 40.11, suggesting a neutral-to-bearish sentiment.
- The MACD remains bearish, though decreasing negative histogram bars may point to waning selling pressure.
- Candlestick patterns show small-bodied bullish candles, indicating consolidation but no strong reversal yet.
If buyers can break through the $2.22 level, the path toward $2.35 becomes more plausible, especially if macro sentiment improves.
Market Outlook: All Eyes on the Judgeās Ruling
The outcome of the Ripple-SEC motion could influence not only XRPās near-term price, but also how courts treat crypto-related cases going forward. A favorable ruling could clear the way for XRPās continued growth. However, any surprise decision may trigger renewed volatility.