As of Friday, Ripple (XRP) is trading around $2.18, slightly lower than the previous day but still reflecting strong market interest following a major legal development in the U.S. Earlier this week, a federal court overturned tariffs that had been put in place during Donald Trump’s presidency.
This ruling has brought a wave of optimism to the broader market, especially among digital assets. Many view it as a sign of a changing economic direction, which has helped sustain the positive trend in the crypto space, even as individual tokens like XRP experience minor fluctuations.
SEC Roundtable Planned as Court Limits Trade Powers
Meanwhile, the SEC’s Crypto Task Force is preparing to hold a roundtable on June 9, aiming to foster dialogue among key figures in the industry. Notable participants will include Rebecca Rettig of Jito Labs.
According to a Reuters report, the U.S. Court of International Trade ruled that the power to oversee trade with foreign nations lies solely with Congress and cannot be bypassed through presidential emergency powers.
SEC Hosts DeFi Discussion Panel
The SEC’s Crypto Task Force has disclosed the details of its upcoming roundtable, scheduled for June 9 at the agency’s headquarters in Washington, D.C. The event, titled “DeFi and the American Spirit,” aims to examine the impact and future of decentralized finance within the wider financial ecosystem.
Panel and Focus on DeFi’s Potential
The roundtable will feature nine distinguished experts from both the crypto industry and academia. Confirmed speakers include Jill Gunter from Espresso Systems, Omid Malekan of Columbia Business School, Rebecca Rettig of Jito Labs, and Peter Van Valkenburgh of Coin Center.
Commissioner Hester M. Peirce, who leads the task force, highlighted DeFi’s ability to revolutionize financial transactions by minimizing reliance on intermediaries. She expressed eagerness to learn from the panel as the SEC considers how to develop regulatory frameworks that encourage DeFi’s growth in the U.S.
XRP Price Declines Following Early May Upswing
XRP started May with a noticeable upward movement, but over the last two weeks, the momentum has shifted toward a bearish trend. The price now appears poised to test the important support level near $2.20. This zone is attracting attention from traders who see it as a potential entry point for buying on dips, anticipating a possible rebound.
XRP Technicals Signal Further Downside Pressure
On the 4-hour chart, XRP is currently trading below several key moving averages—the 50, 100, and 200-period EMAs—which suggests sustained short-term weakness. The Relative Strength Index (RSI) has fallen below the neutral 50 level, adding to the bearish outlook. Moreover, if the MACD indicator’s blue line crosses below the red signal line, it could confirm a sell signal, potentially pushing the price toward liquidity-rich support areas at $2.20, $2.21, and $2.00. Traders will be watching these levels closely for signs of stabilization.
Final Thoughts
Despite short-term weakness and XRP trading near key support levels, recent legal rulings have boosted confidence across digital assets. The SEC’s upcoming DeFi roundtable shows continued regulatory focus on the space. Traders will watch XRP’s technical signals closely as the market balances near-term challenges with potential long-term opportunities.
