XRP ETF Approval Chances Hit 85%, Will XRP Price Skyrocket?

Coinspeaker
XRP ETF Approval Chances Hit 85%, Will XRP Price Skyrocket?

XRP BTC $95 043 24h volatility: 0.4% Market cap: $1.89 T Vol. 24h: $27.09 B has managed to stabilize after dropping to $1.65 earlier this month, now trading around the $2.20 mark. While the token is down by 2% over the past 24 hours, the increasing speculation of a spot ETF approval in the US has sparked bullish sentiment.

According to Bloomberg’s senior ETF analysts, five proposals, including those by Grayscale, Bitwise, and Franklin Templeton, now have an 85% chance of approval in 2025. This prediction is significantly up from the 65% odds projected just two months ago.

Would love to hear directly from Atkins, but all good chance of happening. Here’s our latest odds of approval for all the dif spot ETFs via @JSeyff https://t.co/nLhYJJmO9U pic.twitter.com/4AcJVwhics

— Eric Balchunas (@EricBalchunas) April 30, 2025

Meanwhile, Polymarket traders are keeping the current betting odds pricing at a 78% likelihood of XRP ETF approval before the end of the year.

Several market analysts believe XRP could soon revisit or even break past its April high of $2.36. Popular trader Dark Defender attributes the ongoing price drop to an Elliott Wave formation. He expects XRP’s current correction to form the base of the next bullish impulse.

People are getting distracted, but don't be.

Next week might be volatile.#XRP will continue to climb to the top.

I will make a projection for you for the Bull Run!

Tick-Tock ⏰ pic.twitter.com/vBKuakitne

— Dark Defender (@DefendDark) April 27, 2025

Another trader, Allincrypto, predicts even a bolder price target of $19.27. He pointed out that the fourth-largest cryptocurrency has recently broken out of a falling wedge on the daily chart.

🚨Bloomberg analysts have given 85% odds to $XRP ETF launches this year notwithstanding futures ETFs already given launch dates. Here's an update on the price chart and where XRP may be heading in 2025. pic.twitter.com/7FmCemyHHK

— ALLINCRYPTO (@RealAllinCrypto) April 30, 2025

He explained that XRP’s recent dip could be the final consolidation before a massive upside move. Notably, the token must breach the $2.25 resistance level to confirm its breakout potential, according to the analyst.

XRP Price Outlook

On the daily XRP price chart, the RSI currently stands at 52.49, suggesting neither overbought nor oversold conditions. This gives the token enough room for upward momentum based on trading volume.

The Bollinger Bands are currently squeezing with the price hugging the middle band (20-day SMA). Such compressions generally result in sharp price movements. A daily close above the upper band (around $2.29) could ignite bullish momentum.

However, if XRP fails to hold the lower band (around $2.01), it may push toward the $1.85 support level.

The MACD has already crossed above the signal line, indicating that buyers are slowly regaining control. However, flat histograms suggest that the momentum is weak.

A continuation of this trend could trigger more aggressive buying in the coming days.

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XRP ETF Approval Chances Hit 85%, Will XRP Price Skyrocket?