XRP Price Prediction For June 13

The price of XRP has lately moved in a bullish pattern, but it is still confronted with some heavy resistance in the charts. At the time of writing, XRP acts at $ 2.11, with more than 6% in the last 24 hours.

Why does the XRP price drop?

On June 13, Israel launched an air raid at the nuclear locations of Iran, which caused a decrease in cryptocurrencies, the total market capitalization of cryptocurrency decreased by 4%. As an addition to this, both parties in the current Ripple vs. Sec -case submitted an updated settlement proposal on the same day. However, legal experts have expressed their concern that the new submission still does not resolve the earlier concerns.

XRP -Price forecast: What is the following?

At present, the important price level to view is around $ 2.34 to $ 2.35. This is the same area where the price was rejected not long ago and it continues to act as an obstacle for XRP.

If XRP succeeds in breaking above this zone, the following goal will be around $ 2.44 and if the trend continues, it can rise to $ 2.60. However, if the price does not break through, there is a chance that it can fall to the nearby support levels. The first support is at $ 2.10, while stronger support can be found at $ 2.05.

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Will the XRP price fall under $ 2?

In the shorter time frames there is still a bullish divergence in the game, which means that the chances of a sharp drop in the coming days are low. Analysts suggest that we will see a slow upward movement or lateral trade for the time being.

Moreover, XRP may have already formed a bottom in April, and since then it seems to build a new five golf rally. This pattern is often seen when a market trend is preparing to push higher. As long as XRP remains above $ 2.11, the positive prospect remains strong.

However, if the price falls below $ 2.11, this can cause a deeper correction, which means that XRP may be sent back to the range from $ 1.94 to $ 1.79.

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