After nearly 8 years stuck below the long-term resistance line, XRP is about to become the center of attention once again as it approaches a historic breakout against Bitcoin (BTC). With XRP spot ETFs still awaiting approval, this breakout could signal the beginning of a significant change in momentum and price trajectory.

XRP Will Break Through Bitcoin's Major Resistance Level

The XRP/BTC trading pair is rapidly approaching a crucial technical breakout that could reshape its long-term value outlook. Cryptocurrency expert Gordon noted in his chart analysis on social media X that XRP/BTC is about to break through the 8-year descending resistance line — a move that could trigger a significant structural change in the market.

Breaking through this resistance level not only signals the end of nearly a decade of underperformance compared to Bitcoin but could also be a potential precursor for a widespread repricing of XRP. Gordon's two-week chart illustrates XRP's struggle to regain an advantage over Bitcoin, with multiple rejections from the steep downtrend line that has acted as a barrier since 2017.

However, after years of accumulation and consolidation, XRP/BTC now seems to be forming a large Symmetrical Triangle pattern, with the current price hovering just below the upper boundary of the pattern. Based on Gordon's analysis, this technical narrowing indicates that a breakout is imminent, especially as the price is accelerating.

What makes this breakout possibility even more attractive is the growth value and current upward momentum of XRP occurring without any significant price catalysts. The upward trend of the XRP/BTC pair has been happening even before any official news regarding the approval of the XRP spot ETF. The expectations surrounding this ETF have been clear, and a favorable decision could serve as a powerful catalyst for continued growth. This scenario aligns with Gordon's assessment that breaking out from the 8-year trendline could be the gateway to wealth opportunities for many generations.

Expected Approval Rate for XRP Spot ETF in 2025 Reaches 95%

According to new data shared by market expert Steph is Crypto, XRP has emerged as one of the top candidates in the race for spot ETF approval in the United States (US). This analyst stated that the likelihood of the U.S. Securities and Exchange Commission (SEC) approving an XRP ETF by 2025 has risen to 95%.

XRP currently holds the highest expected approval rate alongside Litecoin and Solana, signaling a significant shift in sentiment towards altcoin-based ETFs. More and more institutional asset managers are currently investing in this ETF, including Grayscale, Bitwise, 21Shares, WisdomTree, Canary, and many others. Just a few days ago, reports also revealed that the SEC has officially approved the conversion of the Bitwise 10 Cryptocurrency Index Fund into an ETF, including assets like XRP, BTC, ETH, and others.