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XRP Price Prediction: XRP Slips Below Key Support—Is a $3 Comeback on the Horizon?
- XRP price has slipped below key support levels after hitting $2.65 earlier this month, dropping to $2.29 on May 24 following the SEC meeting.
- The lack of updates from the SEC meeting has fueled market anxiety over the unresolved XRP lawsuit and its implications for Ripple.
- Judge Torres' rejection of SEC's motion raised questions on XRP's regulatory status and potential shifts in legal treatment.
- XRP faced a 5.57% drop on May 23 amidst ongoing legal uncertainties and regulatory pressure.
- Technical analysis suggests XRP may face a breakout if it surpasses $2.40, with key support zones at $2.22-$2.17.
- Short-term price action indicates bullish momentum with resistance at $2.55-$2.62 and potential support near $2.10-$2.15.
- Medium-term predictions vary on XRP's recovery potential, with a move above $2.61 signaling a path towards $3.
- Key catalysts include potential SEC appeals, XRP ETF updates, and Ripple's partnerships affecting market sentiment.
- XRP's journey to $3 faces hurdles from legal uncertainties and technical resistance, hinging on market trends and lawsuit progress.
- Investors are monitoring price levels and legal developments closely as XRP's position in the crypto market evolves.
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