Since the sell-off back in May, the XRP (XRPUSD) price has remained subdued.
From the beginning of June 2021, XRP has failed to move above $1.10 and has faced continuous selling pressure. At the time of writing (16:00GMT), XRP is hovering circa $0.83, down 2.96% on the day.
Technically, on D, XRP remains supported by the 200EMA on the heavy side, and if sentiment does not improve across the crypto board, the price could drop further.
The SEC case against Ripple continues to weigh on XRP.
There is no end in sight for the SEC vs Ripple court battle, with reports now suggesting the case has been pushed back for another 60 days and that the dispute could end just before or early 2022.
“The Judge grants SEC’s motion for 60 more days to conduct discovery. Not unexpected, but this will push the entire case back 60 days. That would mean (quick calculations) Summary Judgment sometime in December/January. Absent a settlement, this case is going to end in early 2022.” tweeted attorney Jeremy Hogan.
Price remains in a downtrend and without a positive catalyst, XRP will continue pushing south for the short term.