XRP is on the verge of a significant price move, potentially rebounding to targets between $5 and $8. The asset is approaching the final stages of an ABC correction pattern, with the RSI nearing oversold territory. However, there are short-term risks and uncertainty due to technical and on-chain data pointing to a potential downside. Regulatory challenges surrounding Ripple's ongoing SEC case continue to weigh on XRP's outlook. The approval of a spot XRP ETF and resolution of the legal case will impact the asset's future direction. XRP is currently trading at $2.23, down 17% on the weekly chart.



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