- XRP trading at $2.29, down 0.47% daily and 3.72% weekly amid low volatility.
- Analysts signal a bullish reversal, with potential breakout targets up to $3.87.
- SEC advances XRP ETF review, signaling cautious optimism in crypto regulation.
XRP, the native token of the Ripple network, is trading at $2.29, marking a daily dip of 0.47% and a 3.72% drop over the past week. With 24-hour trading volume sliding by 1.01% to $2.1 billion, the token enters a notable period of low volatility. Technical analysts highlight that XRP is respecting a prolonged descending channel, forming what many view as a bullish reversal structure.
Crypto analyst VipRoseTr emphasizes that XRP has approached a critical support zone at $1.8502. This level is deemed a high-confluence buy area, where technical indicators like trendlines and Fibonacci retracements converge. The setup suggests that XRP could reverse its downward trend if the price holds firm and breaks out above the upper resistance line near $2.30. If validated, the projected targets are $2.9520, $3.3967, and $3.8767—implying potential gains of over 100% from the support level.
Recent candlestick patterns and declining volume reinforce market indecision. However, this low activity may indicate an absence of strong selling pressure, a common precursor to bullish breakouts.
XRP price prediction for 2025 shows strong potential
Despite the recent lull, longer-term forecasts remain optimistic. DigitalCoinPrice anticipates XRP could surpass its previous all-time high of $3.84 by late 2025, reaching between $4.82 and $5.01. The token briefly touched $3.39 earlier this year before retreating, reinforcing its potential for upward swings once momentum re-establishes.
Investors and analysts alike believe XRP’s price could accelerate past $3.84 once market conditions improve and legal overhangs fully resolve. With a supportive macro environment and growing institutional interest in cryptocurrencies, the coin remains a top candidate for price resurgence among large-cap digital assets.
XRP ETF becomes key case for crypto regulation
Meanwhile, the U.S. Securities and Exchange Commission (SEC) also concluded its receiving of public comments for WisdomTree’s application for the creation of an XRP spot ETF. The SEC will now scrutinize the application more carefully, which will be over a period of up to 240 days. It demonstrates the SEC’s carefulness as well as diligence.
Many view this as a step in the direction of approving financial products involving cryptocurrency. While the SEC likely will not approve it immediately, professionals believe that this review signifies progress. Emily Clarke, the Head of Research at Digital Asset Management, indicated that “The new SEC leaders seem more accepting of crypto, which will influence future ETF approvals.”
The SEC’s ultimate ruling would be likely to have a profound effect on the creation and usage of crypto ETFs in the USA, setting a precedent for any upcoming regulations.
