The main dishes to remember:
The price of XRP has dropped 5% in the last 24 hours, as American GDP data has shown an economy in narrowing.
However, a strengthening of the market structure and the growing hope of investors for an ETF XRP approval to the United States suggest that Altcoin could review its April peak at $ 2.36 in the short term.
The technical graphics are currently showing XRP trading (XRP) in a falling corner model. A “fall corner” is a bull’s loss diagram pattern which includes two convergent trend lines which connect the lower stockings and the lower ups. This convergence indicates a weakening of the momentum.
The model will be resolved when the price breaks down over the trend line greater than $ 2.40, and if this occurs, buyers could target $ 3.74 then, representing an increase of 71% compared to the current price.
The relative resistance index (RSI) is greater than the midline, indicating that market conditions still promote the advantages.
However, to maintain the recovery in progress, the XRP price must first maintain the support at $ 2.20, then overcome the resistance between $ 2.80 and $ 3.00.
Several analysts remain optimistic about the ability of Altcoin to bounce back to peaks of all time, the Dark Defender popular trader saying that the current correction is part of an Elliott wave model which will eventually see “XRP continues its climb up”.
The allLccryptto trader thinks that XRP “heads around $ 19.27” based on an escape from a falling corner model.
“Where we will go back, it is a perfect manual, and we had highlighted a corner which was present on XRP which ended up going to $ 19.27.”
In relation: What are the future XRPs and how to invest in them?
Approval ratings for an XRP ETF approval in 2025
Bloomberg senior ETF analysts said that the five ETF XRP, including Grayscale, 21Shares, Wisdomtree, Bitwise, Canary and Franklin Templeton, have 85% of approval after the change in leadership at Securities and Exchange American Commission (SEC).
This is a significant improvement in relation to their prediction more than two months ago which established the chances of XRP approval in 2025 to 65%.
Similarly, the Paris dimensions for an ETF XRP approval by December 31 are now 80% on Polymarket. During last week, the probability of approval changed 17% in favor of the bullish masses, which was around 63% on April 23.
Meanwhile, on April 29, the SEC postponed its decision on the XRP ETF Spot of Franklin Templeton, fixing a new deadline for review on June 17.
The approval of these ETFs could unlock institutional capital, amplifying demand for XRP. Although the approval times remain vague, they would mark a step towards traditional adoption for XRP.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
