XRP Price Wobbles at $2.15 as SEC Chair Drama Fuels Investor Uncertainty

Quick Market Recap:

• XRP touched a low of $2.06 before recovering to $2.15.

• Futures open interest dropped by $220 million in 10 days.

• Odds of an XRP ETF approval by July fell from 42% to 35%.

• Atkins’ nomination faces growing pushback from lawmakers.

• Regulatory uncertainty is dampening short-term sentiment.

Unless there’s a meaningful shift in tone from U.S. regulators, XRP could continue facing downward pressure.

XRP Technical Outlook: Breakdown or Breakout?

From a technical standpoint, XRP isn’t out of the woods yet. The token is currently hovering around $2.17, but it’s struggling to clear resistance from key moving averages. The 50-day SMA sits at $2.41, while the 100-day SMA looms at $2.51—levels that bulls will need to reclaim to flip the momentum.

The indicators aren’t offering much hope either. The Balanced Bollinger Percentage (BBP) is at -0.3190, hinting at sustained downward pressure. If XRP can’t hold the $2.20 support zone, a slip to the psychological $2.00 level becomes likely. And if that breaks, panic selling could push prices as low as $1.80.

On the flip side, a bullish breakout above $2.41 would challenge the bearish narrative. If volume follows through, XRP could aim for $2.60 and beyond. But until then, low buying pressure and regulatory overhangs keep the near-term outlook shaky.

Final Thoughts

XRP is walking a tightrope. While Ripple’s legal battles may be winding down, the broader regulatory landscape remains a wild card. With Paul Atkins’ nomination up in the air and ETF approval odds slipping, traders are treading carefully. The next few weeks could be pivotal for XRP—whether that means recovery or another leg down.