The ETF altcoin season is coming, will XRP surge? Recently, there has been rampant online speculation that 'the US SEC has approved the XRP spot ETF,' causing XRP price to briefly rise by 5%. After a slight increase, the price quickly fell back as people realized the mistake. What are the three new XRP ETFs? These ETFs do not directly buy XRP but bet on futures price fluctuations. ProShares in the US is set to launch on April 30:
2x long futures ETF
1x short futures ETF
2x short futures ETF
Current status of XRP ETF: There are 4 XRP ETFs in the US, all of which are futures, with no spot ETFs. On April 25, the XRP spot ETF was listed in Brazil. On May 19, XRP futures were launched on the Chicago Exchange, possibly paving the way for spot ETFs. So, when will the SEC approve the spot ETF? Large companies like Grayscale are applying, but the SEC has not yet budged. Currently, the ETF altcoin season is approaching, with over 70 ETF applications, and everyone is betting that the new SEC chairman will approve them. XRP, Sol, and LTC are the focus of the next wave, while Doge, Bonk, and PENGU are also following the trend to join the ETF frenzy, likely to be a pump and dump. XRP market cap: 134.5 billion, SOL market cap: 76.9 billion. If both are approved for ETFs, considering market cap and ecological advantages, SOL may have more potential for price increase in the future.
These altcoins applying for ETFs are about to explode with 10x gains! 1.SOL
The total locked value (TVL) of Solana is 8.54 billion USD, with a 24-hour trading volume of 3.67 billion USD and an open interest of 1.11 billion USD, indicating a thriving Solana ecosystem with active DeFi and derivatives markets. Additionally, Solana has seen a massive influx of funds in April. A few days ago, over 37.4 million SOL (worth nearly 52.76 million USD) was withdrawn from Binance, indicating significant whale activity and capital redistribution within the Solana ecosystem.
Will such a large-scale withdrawal tighten exchange liquidity and affect short-term SOL price dynamics?
The price of Solana is in a perfect cup and handle formation and has just rebounded from the support level of the parallel channel. As the bears seem to have enough control over the token, the price is slowly moving towards the resistance level. However, the bulls have maintained the upward trend, thus maintaining bullish hopes. The DMI levels and ADX have both contracted, indicating that a strong price movement is on the horizon according to historical chart patterns. On the other hand, the weekly MACD shows declining selling pressure, while the levels are moving towards a bullish crossover. Therefore, in the coming month, the price seems poised to break through 200 USD.
Solana's fundamentals are strong, thanks to the participation of whales and the rapidly growing DeFi ecosystem. Following this significant recovery and DEX trading volume surpassing Ethereum, SOL is continuously attracting the attention of traders and long-term holders. Therefore, the price of Solana (SOL) is expected to break through the resistance level around 200 USD and may reach a new high close to 500 USD.
2.XRP
Two potential reasons for the expected significant volatility in XRP price are: the legal progress of the SEC lawsuit, institutional adoption, and the regulatory environment. A favorable ruling in the SEC vs. Ripple case is expected to provide clarity and could enhance investor confidence. Meanwhile, the first XRP spot ETF approved by Franklin Templeton indicates increasing interest from institutional investors. On the other hand, the Trump administration's proposal to include XRP in the US cryptocurrency reserves may enhance its legitimacy and adoption rate.
Now that market sentiment has shifted from fear to greed, will XRP price maintain a solid upward trend and set a new high?
The upward trend since today's opening has helped the token break through the bearish pattern. As trader sentiment turns optimistic and a large amount of buying flows in, the price has broken through the descending triangle resistance level. However, the Bollinger Bands are contracting, which not only indicates a decrease in volatility but also suggests that a significant breakthrough is imminent. On the other hand, the MACD shows an increase in buying volume, while the MACD levels are retreating back into the positive range.
The current trading pattern and technical indicators suggest that XRP price is about to experience significant volatility. If XRP price breaks through the resistance level of 2.45 to 2.71 USD, it may pave the way for a rise to 3 USD or higher. Once XRP price stabilizes above this range, a price increase may soon set a new high.
3.ADA
According to market data analysis from Intotheblock, the correlation between Cardano and Bitcoin over the past 30 days is 0.87 (out of 1). As Bitcoin (BTC) attempts to break through the key resistance level of over 95,000 USD, ADA's price is expected to follow suit.
Since the US President announced on Truth Social on April 9 that now is a good time to buy, Cardano's futures open interest (OI) has soared from 603 million USD to around 802 million USD at the time of writing.
From a technical analysis perspective, Cardano's price has followed a fractal pattern similar to that of Dogecoin during the 2017 cycle. Notably, the initial explosive surge of altcoins in 2017 occurred in the second quarter.
Within the 3-day timeframe, ADA price has formed a symmetrical descending channel that may be broken soon. If ADA price continues to stay above the resistance level of around 74 cents, it is expected to rebound to 88 cents.
Brothers, quickly gather in the chat room:
