- XRP price falls below $2.30 as SEC delays Franklin Templeton’s spot XRP ETF decision.
- Geopolitical tensions, mainly the Israel-Iran conflict, has contributed to broader crypto market dip.
- XRP price prediction hinges on key support at $2.00 and short-term resistance at $2.50.
Ripple’s XRP token saw its price dip to near $2.00 on Tuesday as the cryptocurrency market grappled with a fresh downturn.
The geopolitical tensions that see an escalation in the Israel-Iran conflict, now in its fourth day of heavy missile strikes, continued to rattled investor confidence, pushing risk assets like Bitcoin and XRP lower.
Adding to the uncertainty, US President Donald Trump’s recent remarks on a peace deal or truce have sparked fears, further dampening market sentiment.
Against this backdrop, XRP faces intensified pressure as the US Securities and Exchange Commission (SEC) postpones its decision on Franklin Templeton’s spot XRP ETF.
Ripple price drops as SEC delays XRP ETF
XRP experienced a sharp bearish move on June 17, aligning with notable declines across the market.
Following the SEC’s decision to extend its review of Franklin Templeton’s spot XRP ETF to late July 2025, the token plummeted below $2.20.
Bulls posted a 6% loss and reached lows of $2.13.
This meant XRP price extended the downside that has seen it pare recent gains.
However, despite the heightened market volatility and the broader crypto market’s declines, XRP held above the crucial $2.00 level.
It remains to be seen how the markets react further amid the Israel-Iran conflict and Fed’s interest rates decision on Wednesday, June 18.
Notably, the community largely expected the SEC to delay the XRP ETF decision and could now look to the eventual approval.
Analysts say the chances remain high, even amid outstannding legal issues.
XRP price prediction
Nonetheless, the token’s failure to hold above the critical $2.30 level has weakened buyer confidence.
The current market conditions also continue to cast a shadow over XRP’s price trajectory.
XRP is currently trading at approximately $2.20, caught between key support at $2.00 and resistance at $2.50.
Technical indicators provide mixed signals. A look at the charts shows the daily Relative Strength Index (RSI) at 46 and downsloping to suggest XRP could trend towards the oversold territory.
The Stochastic oscillator in oversold territory indicates a potential uptick, despite selling pressure persisting.
Open Interest (OI) in XRP futures remains steady at $3.90 billion, but a 10% drop says short term confidence is a little on the low.
Nonetheless, derivatives volume of $8.2 billion reflects current market frenzy amid geopolitical risks.
In terms of price prediction for XRP, a breakout above $2.30 could allow for a march on $2.50 and potentially $3 ahead of SEC’s next XRP ETF decision.
On the downside, breakdown below $2.00 may test bulls resolve and bring the $1.75 support area into focus.
