XRP News: Ripple Moves 230M Coins Amid Price Surge, Whats Happening?

XRP price jumped nearly 2% today and traded at $2.18, with its one-day volume falling 50% to $2 billion. Notably, the crypto has hovered between the $2.15 and $2.19 zone in the last 24 hours.

However, despite the recent surge, CoinGlass data showed that XRP Futures Open Interest stayed in the red. This indicates that the investors are treading cautiously amid the volatile scenario in the broader crypto market.

Besides, as XRP price continues to stay in the consolidation phase over the past few days, the investors are waiting for a major catalyst now.

Meanwhile, the XRP community is now awaiting the June 16 deadline in the Ripple vs SEC case. Lawyer Fred Rispoli recently highlighted that Ripple and the US SEC must file a status report in the 2nd Circuit by the deadline.

A conclusion in the long-running XRP lawsuit, if happens, could trigger a massive surge in Ripple price. Simultaneously, the market pundits also remained optimistic about the future trajectory of the coin.

For context, in a recent X post, analyst Dark Defender said that if Ripple price can hold the $2.22 support, it could target the $2.40 next.

Besides, he also noted that if the bulls continue to dominate, the next target for XRP price sits at $5.85.