XRP tests resistance as ETF approval odds improve
Ripple's XRP is trading around $2.22 and remains stable near its short-term support of $2.20. The asset has struggled in recent weeks to break a downward trend line, but this could be about to change. Analysts are observing a confluence of bullish signals, particularly the MACD turning green and the growing optimism surrounding a spot XRP ETF.
The regulatory debate has shifted, with the odds of approval for a spot XRP ETF rising from 65% to 85%. This increase has revitalized XRP's price structure, and a breakout above the trend line resistance could initiate a move towards the $2.80–$3.00 zone.
The technical context supports this scenario, as XRP continues to trade above its 50 and 100-day EMAs, suggesting underlying support from long-term holders. However, traders remain cautious, noting that without decisive momentum above resistance, the bullish trend remains unconfirmed. For now, XRP presents a moderate opportunity, depending on chart strength and macro-level regulatory developments.
