Breakthrough for XRP as spot ETF possibilities improve

XRP spot ETF approvals rise to 85% from 65% in two months, boosting XRP holders' trust.

XRP continues over $2.20 due to the 50- and 100-day EMAs converging.

Traders expect a breach over declining trendline resistance with a MACD buy signal.

XRP's discussion compared to other prominent cryptocurrencies has fallen, creating negative risks.

Ripple (XRP) is supported around $2.20 and trading at $2.22 on Friday. Following the SEC leadership transition, the XRP community is becoming more secure in its holdings and hopeful for spot XRP ETF approval. XRP may rise to $3.00 if it breaks above a four-month falling trendline in the daily time period.

XRP spot ETF acceptance improves

Paul Atkins' appointment as SEC Chair has increased the odds of an XRP spot ETF approval to 85% from 65% in two months. Santiment says “traders are now predicting new all-time highs for XRP, and betting platforms like Polymarket reflect this shift, with 79% odds of approval by the end of the year.”

Despite the SEC delaying Franklin Templeton's spot ETF petition until June 17, spot XRP ETF clearance remains likely. The spot ETF might change XRP investing dynamics by encouraging institutional interest and bringing the token into the mainstream financial sector.

XRP rally may continue.

XRP's price retains $2.20 confluence support from the 50- and 100-day Exponential Moving Averages. XRP seems to be continuing its rise toward $3.00, despite the critical fluctuation around this level last week.


As seen on the daily chart, the indicator's movement above the center line and green histogram expansion improve the chance of a breakthrough above the falling trendline.

At $2.50 and $2.80 supply zones, traders can expect drawdowns. Profit-taking might impede or reverse the rally at current levels.

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