Despite a short-term dip of 5% following disappointing U.S. GDP data, XRP is gaining strong bullish momentum, powered by rising expectations for a spot XRP ETF approval in the United States. With approval odds now climbing to 85%, analysts are increasingly confident that XRP could set new all-time highs in 2025.
XRP ETF Approval Odds Rise Sharply
According to Bloomberg ETF analysts, the odds for a spot XRP ETF approval by regulators have surged from 65% to 85%, following a shift in leadership at the U.S. Securities and Exchange Commission (SEC). Applications from major issuers like Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton are currently under review.
Betting markets echo this optimism. Polymarket shows that traders now assign an 80% chance of XRP ETF approval by December 31, up from 63% last week. The most notable recent development was the SEC’s decision on April 29 to postpone its ruling on Franklin Templeton’s XRP ETF, with the next review scheduled for June 17.
Analysts believe that ETF approval could open the floodgates for institutional capital, boosting liquidity and accelerating mainstream adoption of XRP.
Technical Charts Signal Bullish Breakout Potential
Despite the recent correction, technical indicators remain positive for XRP. The altcoin is currently consolidating within a falling wedge pattern, a classic bullish reversal formation.
A breakout above the key resistance at $2.40 would confirm the pattern, potentially driving XRP to the next major target at $3.74, a 71% increase from current levels. The Relative Strength Index (RSI) remains above the midline, supporting the bullish case.
To maintain upward momentum, XRP must hold above its support at $2.20, and break through the resistance zone between $2.80 and $3.00.
Analyst Price Targets: $3.74 to $19.27
Crypto analysts are becoming increasingly bold in their XRP projections. Renowned trader Dark Defender believes the current dip is part of an Elliott Wave structure, and that XRP is “climbing to the top” as the wave progresses.
Fellow trader Allincrypto forecasts a potential rally to $19.27, citing a breakout from the falling wedge. According to him, XRP is following a “textbook perfect pullback” before a major rally resumes.
ETF Approval Could Be a Game-Changer
If the XRP ETFs gain SEC approval in the coming months, it would mark a transformative milestone for the asset. Not only could it legitimize XRP in the eyes of institutional investors, but it would also significantly boost demand and price momentum.
For now, all eyes remain on the June 17 SEC review date and the broader ETF approval landscape in 2025.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
