According to Cointelegraph, the likelihood of an XRP Exchange-Traded Fund (ETF) receiving approval has risen to 85% following a change in leadership at the U.S. Securities and Exchange Commission (SEC). This development has sparked optimism among analysts who predict that XRP could reach new all-time highs in 2025. Despite a recent 5% drop in XRP's price due to U.S. GDP data indicating a shrinking economy, the altcoin's market structure appears to be strengthening. Investors are hopeful for a spot XRP ETF approval in the United States, which could see XRP revisit its April peak of $2.36 in the near term.
Technical analysis reveals that XRP is currently trading within a falling wedge pattern, a bullish reversal chart pattern characterized by two converging trend lines connecting lower lows and lower highs. This pattern suggests weakening downward momentum, and a breakout above the upper trendline at $2.40 could lead buyers to target $3.74, a 71% increase from the current price. The relative strength index (RSI) remains above the midline, indicating favorable market conditions for an upward trend. However, for XRP to sustain its recovery, it must hold support at $2.20 and overcome resistance between $2.80 and $3.00. Analysts remain optimistic about XRP's potential to reach new highs, with some predicting a climb to $19.27 based on the falling wedge pattern.
The improved odds for XRP ETF approval are supported by Bloomberg senior ETF analysts, who have increased their prediction from 65% to 85% following the SEC leadership change. This optimism is echoed by betting odds on Polymarket, which now stand at 80% for an XRP ETF approval by December 31. The probability of approval has increased by 17% over the past week, reflecting growing confidence among investors. Meanwhile, the SEC has postponed its decision on Franklin Templeton’s spot XRP ETF, setting a new review deadline for June 17. Approval of these ETFs could unlock institutional capital and boost demand for XRP, marking a significant step toward mainstream adoption. However, the timeline for approval remains uncertain. Readers are reminded that this article does not provide investment advice, and all trading decisions should be made based on individual research and risk assessment.
