In recent developments, Ripple's XRP has witnessed notable whale movements as it nears a crucial phase in its legal dispute with the US SEC. The ongoing legal battle, initiated in December 2020, revolves around allegations of unregistered securities offerings through XRP sales, with proposed penalties amounting to $102.6 million. As the case progresses, it faces the prospect of delays and appeals, potentially impacting XRP's price. Speculation points towards a potential resolution by July 31, with a projected penalty of around $25 million. However, the complexity of the legal process and the likelihood of appeals could prolong the litigation indefinitely.

The recent dip in altcoin prices, following a challenging week in the cryptocurrency market, led to a significant sell-off, causing XRP to breach the critical $0.47 level. This drop below the threshold suggests an imminent increase in supply pressure for XRP in the upcoming week. Currently trading at $0.4369, XRP has shown a marginal increase of 0.72% in the last 24 hours, with a notable surge in trading volume by 77.62%. If XRP manages to surpass the $0.45 mark, it is expected to test the $0.47 resistance level. Conversely, a decline below $0.40 could potentially lead to a further drop towards the $0.34 support level.