📰 Main news driving the price of XRP
✅ 1. Approval of the XRP ETF by the SEC
The U.S. Securities and Exchange Commission (SEC) has officially approved ProShares' XRP ETF, with a public launch scheduled for April 30, 2025. This development has generated a bullish sentiment in the market, as it is expected to facilitate institutional investment in XRP.
✅ 2. Optimism for the ETF and potential surges
Analysts predict that the approval of the ETF could drive the price of XRP up to $5 in the short term, with more optimistic projections placing it between $10 and $25 in this cycle.
✅ 3. Inclusion of XRP in the U.S. strategic cryptocurrency reserve
Former President Donald Trump announced the inclusion of XRP in the national cryptocurrency reserve, along with Bitcoin, Ethereum, Solana, and Cardano. This measure has bolstered confidence in XRP as an institutionally backed asset.
✅ 4. Favorable resolution in the legal battle with the SEC
The SEC has decided to withdraw its appeal against Ripple, which is considered a significant victory for the company and has eliminated a legal uncertainty that weighed on XRP.
📉 Factors that could negatively affect
Market volatility: The recent release of 200 million XRP tokens could increase selling pressure and impact the price.
Competition in the sector: The growing adoption of other cryptocurrencies in cross-border payment solutions could limit the growth of XRP.
📊 Technical outlook
XRP remains above its 50-day moving average, indicating a short-term bullish trend. However, it faces significant resistance around $2.80, a level that has been difficult to surpass in recent weeks.
