Current Situation
Currently, $XRP is trading
at a level of $2.03 after a noticeable decline in recent hours. The price has dropped from $2.08 to the current level, with high trading volume during the decline.
Current Influencing Factors
Positive News:
- Canada has become the second country in the world to approve an ETF for XRP currency.
- Analysts from Bloomberg predict a 90-95% chance of approval for #ETF currency in the United States.
- Statement from lawyer #Ripple denying the possibility of the US government seizing #XRP held in escrow
Negative Factors:
- Delay by the US Securities and Exchange Commission (#SEC ) in approving ETF funds for $XRP and Solana.
- Continued delays in the final settlement between Ripple and the SEC
Short-term Forecast
In the short term, it seems that $XRP is undergoing a price correction after the recent rise. The main support level is at $2.00, which is an important psychological level strongly defended by investors.
We may see fluctuations in the range of $2.00-$2.20 in the coming days with investors awaiting new developments, especially regarding ETF approvals.
Medium-term Forecast
Based on search data from Google and increased interest in the currency, there are indications of a possible price breakout in the near future. Some analysts point to 4 positive signals supporting this trend:
- Strong support at the $2.00 level
- Decrease in volatility and formation of a symmetrical triangle
- Balanced Leverage
- End of the profit-taking wave
Future Catalysts
1. Potential approval of an ETF in the United States
2. Final settlement with the SEC
3. Positive legal developments such as the "#GENIUS " law that was approved in the US Senate
Investors should monitor the $2.00 level as a main support, as breaking it could lead to further declines, while a rebound from it could test levels of $2.20-$2.30 in the near term.
The above information has been researched and summarized through personal effort and does not constitute investment advice.
