The price of XRP, the native token of the Ripple network, is facing a critical juncture. Despite a recent rally in Bitcoin, XRP is clinging to the psychologically significant support level of $0.60. This comes as Automated Market Makers (AMMs) make a comeback on the XRPLedger mainnet after a successful amendment on Friday.

The return of AMMs, which facilitate decentralized trading, is seen as a positive development for the XRP ecosystem. AMMs could potentially boost liquidity on the XRPLedger, making it easier for traders to buy and sell XRP. However, this positive news is overshadowed by the ongoing legal battle between Ripple and the SEC. The price action of XRP seems to be reflecting this uncertainty.

Analysts are closely watching the $0.60 support level. If XRP can hold above this level, it could be a sign of resilience and potentially lead to a bounce back towards its April 9th high of $0.64. However, a break below $0.60 could trigger further selling and push the price even lower.

The impact of the SEC lawsuit and the broader market sentiment remain key factors for XRP’s price in the near future. The return of AMMs on the XRPLedger is a welcome development, but it’s unclear if it will be enough to overcome the current headwinds. XRP holders are likely to remain cautious until there’s more clarity on the legal front and the overall direction of the cryptocurrency market.