In the last 24 hours, XRP has dropped by 6%, reflecting the volatility of the overall cryptocurrency market. Despite maintaining a position above the 50-cent mark for three weeks, the recent dip in price could signal a bearish trend in the near future. Investors are closely monitoring the weekly close to determine the bullish outlook for XRP.

Analyst Yuriy_Bishko, who has over 78k followers on TradingView, believes that the outcome of the Ripple case expected to conclude in May could greatly impact XRP's price action. If Ripple is found guilty of selling unregistered securities, the XRP price could drop to the nearest major support level between $0.37-0.41. However, if Ripple is acquitted and XRP is deemed a commodity, the token's value could skyrocket.