XRP climbs above $1.40, approaches $1.45 resistance

What happened: XRP, the cryptocurrency by Ripple, has been volatile recently. It slid 4% in 24 hours, breaking below $1.30 support on June 1, as Bitcoin's selloff dragged down altcoins. XRP has since climbed back above $1.40, approaching $1.45 resistance. Analysts see a symmetrical triangle pattern that could drive a 100% rally to $2-$4, but XRP has tested $1.50 resistance twice before without breaking out.

Market impact: The crypto market is affected, with XRP's price swings influencing investor sentiment and trading volumes. The XRP Ledger's success in attracting capital hasn't translated to price appreciation, raising concerns about its correlation with network activity. Meanwhile, XRP's derivatives market shows renewed activity on Binance, with open interest hitting a 2026 high.

What to watch next: XRP's price action around the $1.45 resistance level will be crucial. A close above $1.46 could signal a breakout, while another rejection could lead to a retrace. Additionally, the upcoming SEC vs. Ripple lawsuit decision on June 30 could serve as a major catalyst, potentially driving XRP's price significantly if the ruling favors Ripple. Lastly, the broader macroeconomic backdrop and Bitcoin's performance will continue to influence XRP's price trajectory.