XRP Trading Near $2.30 as It Approaches Key Decision Zone

XRP is currently trading around $2.30, continuing a two-day recovery within its seven-month range of approximately $2.00 to $2.80. Analyst Quantum Ascend suggests this compression phase is nearing a critical point that will decide if XRP experiences a surge or a further decline.

XRP Tightens Into Decision Zone

The price has retraced over 50% of its previous upward movement, typical for a second-wave correction.
Current Fibonacci analysis indicates a potential decision zone between $2.42 and $2.52.
A bounce in this area could lead to further volatility, contingent on Bitcoin's performance.
The upcoming US SEC deadline on June 17 regarding Franklin Templeton’s spot-XRP ETF proposal may influence price movements.
XRP is still below its all-time high of $3.40 from January.
Traders are focused on closing above the $2.42-$2.52 range to confirm a bullish trend.
A failure to break out might lead to a drop towards the lower $2 region before any bullish structure can resume.

As of the latest update, XRP is priced at $2.28.

XRP price