Ripple’s Future Bright despite XRP Exhaustion
The Trump administration increased the chances of an XRP ETF being approved to 85 percent
Quick overview
- The Trump administration has increased the likelihood of an XRP ETF approval to 85%.
- Analysts predict XRP could reach new all-time highs by 2025, supported by a strengthening market structure.
- XRP is currently trading within a bullish falling wedge pattern, with potential targets of $2.8 if it breaks above $2.4.
- Future developments in the SEC case against Ripple are crucial for XRP's market outlook and potential inclusion in the crypto ETF market.
Live XRP/USD Chart
The Trump administration increased the chances of an XRP ETF being approved to 85 percent. Analysts who believe that XRP may hit new all-time highs in 2025. The altcoin’s market structure seems to be strengthening despite weak U.S. economic data
Market action showed the altcoin is trading inside a falling wedge pattern, a bullish reversal chart pattern with two trend lines that converge to connect lower highs and lower lows. A break above the upper trendline at $2.4 could push buyers to target $2.8, as this pattern indicates waning downward momentum.
The favorable market conditions for an upward trend are indicated by the relative strength index (RSI) staying above the midline. XRP must, however, maintain support at $2.20 and get past resistance between $2.80 and $3.00 to continue its recovery. With some forecasting a rise to $19 based on the falling wedge pattern, analysts.
Future developments in the ongoing SEC case against Ripple are still critical to the supply-demand outlook for XRP. Investors are awaiting an SEC court filing asking Judge Analisa Torres to lift the ban on XRP sales to institutional investors and lower the $125 million fine.
Judge Torres’s Final Judgment Modification could pave the way for a US XRP-spot ETF market. On April 10, the SEC and Ripple filed a motion to halt the appeal together, pointing to the possibility of a settlement. If the resolution is successful, the SEC may be open to adding XRP to the crypto ETF market.
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