Ripple’s XRP token is struggling to overcome the $0.52 level. The asset is up by 0.9% in the daily chart and 1.3% on the 14-day chart. However, the asset is down by 1.6% in the weekly chart and by nearly 3% over the previous month.
Also Read: Can XRP ETF Hype Push Ripple’s Price To Breach $0.75 in June?
XRP has struggled to gain momentum for quite some time, likely due to Ripple’s ongoing lawsuit with the US SEC (Securities and Exchange Commission). XRP’s price briefly rallied last year after a district court ruled partially in favor of the fintech company. The district court ruled that selling XRP tokens to retail clients did not breach securities laws. However, the lawsuit has entered the high court, and investors await a ruling.
Ripple XRP weekly price prediction
According to CoinCodex, XRP could surge to $0.69 on June 7, 2024. Reaching $0.69 from current levels would translate to a rise of about 35.2%. However, the platform does not expect prices to hold, predicting a correction to $0.54 by the end of the month.
Also Read: Ripple: How High Can XRP Go if Bitcoin Hits $155,000?
Chagnelly also paints a similar picture for XRP. The platform anticipates the asset to surge to $0.695235 on June 6, 2024. However, Changelly expects XRP to fall to around $0.592719 by June 8, 2024.
Also Read: How High Could Ripple XRP Go If It Hits $3 Trillion Market Cap?
One of the most significant barriers to XRP’s price is the ongoing SEC lawsuit. If the high court rules similarly to the district court, we may witness a sudden surge in XRP’s adoption and price. Another factor that could impact XRP’s price is the overall market sentiment. If BTC surges to a new all-time high once again, XRP might gain some momentum.