XRP price outlook depends on Ripple legal rulings and spot ETF progress

XRP's price trajectory is increasingly tied to the outcomes of Ripple's legal battles and the advancement of spot exchange-traded funds (ETFs). Recently, XRP broke down from a bullish ascending channel, falling below the critical $2 support level that had held earlier this year.

Technical indicators reinforce the bearish outlook, with the weekly MACD histogram showing red bars, signaling growing downside momentum. On May 30, XRP dropped to $2.1337, underperforming amid a broader crypto market downturn.

Legal developments have added to market uncertainty. Pro-crypto lawyer Bill Morgan highlighted a court filing containing "data and information believed to be decisive evidence to settle controlling questions and matters central to 10 years of nightmarish chaos" related to Ripple's case. This ongoing litigation continues to weigh heavily on investor sentiment.

The near-term price direction of XRP will likely depend on the resolution of these legal issues and progress in spot ETF approvals, which could provide fresh momentum or further pressure.

"XRP’s near-term price trend hinges on legal rulings and spot ETF developments," analysts note, underscoring the coin's sensitivity to regulatory and market catalysts.

As XRP navigates these challenges, investors remain cautious, watching for key legal decisions and ETF progress that could reshape its market outlook.

XRP's price outlook remains uncertain as it recently fell below key support at $2, influenced by legal rulings in Ripple's ongoing case and progress on spot ETF approvals. Market indicators show increasing downside momentum, with court filings adding to investor uncertainty amid broader crypto market weakness.