- XRP’s chances of a U.S. spot ETF approval have surged to 85%, fueling renewed investor excitement and predictions of potential price breakthroughs.
- Despite recent short-term setbacks, XRP is forming a bullish “falling wedge” pattern, indicating a possible rally toward $3.74 with strong momentum signals.
- Analysts, including Dark Defender, remain bullish on XRP’s long-term prospects, with some forecasting significant price targets like $19.27 based on the current market structure.
XRP is at the center of renewed investor excitement, as the chances of a spot XRP ETF approval in the U.S. have surged to 85%. This dramatic shift has prompted analysts to forecast a potential return to, and possibly a breakout above, XRP’s all-time highs in 2025.
The surge in approval likelihood, bolstered by changing leadership at the U.S. Securities and Exchange Commission (SEC), has led Bloomberg’s senior ETF analysts to update their forecasts. Previously placing the odds at just 65%, analysts now say there’s a strong probability that major players like Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton will receive the green light.
This development comes even as the coin faces short-term headwinds. The altcoin dipped nearly 5% in the past 24 hours, largely in response to disappointing U.S. GDP data pointing to economic contraction. Yet despite the decline, technical indicators and market sentiment are painting a much more bullish medium-term picture.
XRP is trading within a falling wedge pattern, a well-known bullish reversal formation. This pattern is characterized by converging trendlines drawn across lower highs and lower lows, suggesting a slowdown in bearish momentum. According to chartists, a breakout above the upper resistance at $2.40 would confirm the reversal, setting the stage for a swift rally toward $3.74, a 71% surge from current levels.
The Relative Strength Index (RSI), which measures momentum, is holding above the neutral midline. This reinforces the case for further upside, though bulls will need to first defend the support at $2.20 and clear the $2.80–$3.00 resistance band to unlock the next leg higher.
XRP Price Set for Takeoff with Major Rally Ahead
Crypto trader Dark Defender remains confident in XRP’s long-term trajectory, citing the current pullback as part of an ongoing Elliott Wave cycle, an analytical method that tracks crowd psychology and market cycles. “XRP is still climbing,” said Defender, “and this correction is just the next wave before a major move upward.”
Another prominent analyst, Allincrypto, is even more ambitious in his forecast. Referencing the same falling wedge structure, he sees a long-term upside target of $19.27 for XRP. “Where we’re pulling back now is textbook perfect,” he said. “This wedge breakout could be the launchpad for a massive continuation.”
The ETF narrative continues to play a pivotal role. Betting platform Polymarket has seen the probability of an XRP ETF approval by December 31 jump to 80%, a 17-point leap from just a week ago. This shift in sentiment reflects growing confidence that regulatory clarity is finally approaching.
XRP ETF Countdown Begins as SEC Delays Decision
However, the road to approval still holds a few checkpoints. On April 29, the SEC delayed its decision on Franklin Templeton’s spot XRP ETF, pushing the review date to June 17. While this delay disappointed some, market watchers interpreted it as part of the standard process rather than a sign of rejection.
Should the SEC approve even one of the proposed ETFs, it could unlock a torrent of institutional capital, propelling the coin into a new era of adoption and price discovery. With the digital asset’s fundamentals strengthening and investor sentiment flipping bullish, the countdown to XRP’s next big move appears to have begun.
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