XRP Price Surges as ETF Approval Chances Climb to 85%

Positive Trends Fuel Investor Optimism

XRP has experienced a notable price increase of 4% over the past 24 hours, coinciding with growing investor optimism regarding the potential approval of a US XRP Spot Exchange-Traded Fund (ETF). Recent data indicates that the chances of approval have climbed to 85% for the year 2025, fueling a bullish sentiment in the market.

The recent price movement aligns with improving technical indicators that suggest a potential bullish shift. The Relative Strength Index (RSI) has rebounded to a level of 50.40, indicating a reduction in selling pressure. This upward movement hints at a possible transformation in momentum if this strength continues to build.

Technical Analysis Signals Caution

Despite holding above the Ichimoku Cloud—a technical indicator often associated with determining market trends—XRP remains within a narrow trading range, struggling to break above key resistance levels. A significant breakthrough above the $2.30 level is deemed crucial for sustaining any upward momentum in the coming days.

The RSI’s movement is noteworthy; after reaching an overbought peak of 70.95 on April 28, it had previously dipped to 36.51. The current level of 50.40 designates a more neutral position, suggesting that XRP is currently neither overbought nor oversold. This state of indecision among traders could lead to further price fluctuations in the short term.

Market Landscape and Future Outlook

XRP’s price action has prompted a focus on the Ichimoku Cloud indicator, which is currently displaying a mixture of bullish and bearish signals. The asset is hovering just above the cloud, a region that typically acts as dynamic support. However, a transition from green to red in the cloud’s coloration indicates potential resistance ahead and a more precarious trend outlook.

In weighing the positive aspects, XRP’s Exponential Moving Averages (EMAs) maintain a bullish structure, with shorter-term averages positioned above longer-term ones—this configuration typically suggests upward movement. Nevertheless, traders remain attentive to the boundaries set by current price levels, with significant support identified around $2.15. Should this level be breached, XRP may face downward pressure toward $2.03 or even $1.90. Key Resistance Levels to Watch

On the upside, a decisive break above the $2.30 resistance zone could pave the way for XRP to target higher levels at $2.50 and potentially reach $2.64. Maintaining the current EMAs structure will be crucial, as it provides bullish momentum; however, a failure to secure a breakout could lead traders to reevaluate their positions in the absence of confirmed direction.

Investors are encouraged to stay vigilant, as the interplay between market sentiment regarding ETF approvals and technical indicators could significantly influence XRP’s future trajectory.

Disclaimer

This article is for informational purposes only and should not be construed as financial or investment advice. Always conduct independent research and consult with a professional before making financial decisions.