The occasional market-wide declines have erased some of the gains picked up by XRP during its solo March rally. The asset has dropped by over 20% since the local top of $0.5850 observed on March 29. Following these intermittent declines, XRP is currently at its line of defense against a dip to the $0.40 territory.

Ripple's XRP Ledger automated market maker (AMM) is set to go live for end-users, providing XRP holders an extra avenue to earn rewards by providing liquidity to the available pools. The AMM network uses mathematical algorithms to price crypto assets and make it easy for traders to buy and sell them. Ripple CTO David Schwartz expressed his excitement about the feature, but noted that he will only use a portion of his XRP holdings in the XRPL AMM network. He cited three reasons not to hold XRP in an AMM, including the risk of an implementation bug, exposure to other assets, and the potential for missed gains if XRP's price increases rapidly.

Since its launch, the XRP Ledger (XRPL) has burned over 11 million XRP tokens in an effort to tackle spam transactions, but opinions are divided on how effective these burns are in boosting XRP's value. The burn rate is erratic and the network is engineered to decrease the amount of XRP burned as the asset's value increases. While some argue that XRP burns may support the asset's price, others believe that XRP's utility is a major factor driving its price action. Furthermore, official documentation available on the XRP Ledger website states that at the current burn rate, it would take a minimum of 70,000 years to destroy all existing XRP tokens, making XRP "slightly deflationary."

A hearing on class certification in the Zakinov v. Ripple case is scheduled for later today. The plaintiff in the case seeks to certify a class of all XRP holders who purchased, sold, and hold the cryptocurrency at a loss. The hearing will be held in California’s federal court and is for oral arguments on the question of certifying the class of XRP holders suing Ripple. The Judge has given online access to only 500 members of the public to join the proceedings.

Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in an attempt to gain regulatory clarity for digital assets. XRP holders' lawyer in the Ripple lawsuit, John Deaton, showed support for Coinbase by referring to his own filings against the SEC. Deaton highlighted the Coinbase petition as his first writ of Mandamus was also against the SEC, and stated that this is the second writ of Mandamus filed which involves crypto. In his own lawsuit, Deaton sued the commission asking a court to order the SEC to perform its job, and asked the judge to amend Ripple's complaint to just include direct sales done by them.

Edoardo Farina, CEO of Alpha Lions Academy and Head of Social Adoption at XRP Healthcare, has advised against selling XRP before the conclusion of the ongoing lawsuit between the US SEC and Ripple, stating that it would be the most ill-advised decision for any investor to make. Many in the XRP community believe that the ongoing lawsuit has hindered the asset's potential and that XRP has the potential to experience a significant surge in value once the legal case comes to a favorable resolution. BitBoy, a prominent figure in the crypto space, named XRP as his top altcoin pick for the next bull run, stating that the asset's potential has been constrained by the ongoing legal case. XRP recently achieved new highs during its latest rally, which was partly driven by heightened demand stemming from speculations that the SEC lawsuit was approaching its conclusion.

Ripple has moved 120 million XRP tokens in two separate transactions, with the assets eventually sent to several exchanges. The first transaction involved the transfer of 50 million XRP to another address owned by Ripple, which then transferred 70 million XRP to another Ripple-affiliated wallet before being sent to Bitso, Bitstamp and Independent Reserve. In addition to Ripple's movements, other whale addresses cumulatively moved over 230 million XRP tokens in five separate transactions. These transactions come at a time when XRP is struggling to hold above the $0.46 price territory amid a fierce battle with the bears.