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The price of XRP has decreased by 5 % over the past 24 hours, as the US GDP data showed a shrinkage economy.
However, the cardboard structure and the increasing hope for investors to obtain the approval of Spot XRP ETF in the United States indicates that Altcoin may review its peak in April at $ 2.36 in the short term.
The artistic plans are currently displaying XRP trading (XRP) in the falling spoiler style. “Fall Sufficiency” is a bullish reflection diagram that includes two lines of convergence, linking low levels and higher levels. This rapprochement indicates twice the declining momentum.
The pattern will be dissolved when the price collapses over the upper direction line at $ 2.40, and if that happens, buyers may target $ 3.74 after that, which represents an increase of 71 % over the current price.
RSI is higher than the midfield, indicating that market conditions still prefer the upward trend.
However, to maintain continuous recovery, the XRP price must keep $ 2.20 and then overcome the resistance between $ 2.80 and $ 3.00.
Many analysts are still optimistic about Altcoin’s ability to bounce to the highest levels ever, with the famous Dark Trader Defender Saying Continuous correction is part of the Elliott wave style, which will eventually see “XRP continues to climb up.”
Fellow of Allincrypto merchant Secure XRP “is heading to $ 19.27” based on the outbreak of the fall of the fall of the fall.
“When we withdraw back, the textbooks are perfect, and we highlighted a falling wedge that was on XRP, which was eventually lasting to $ 19.27.”
Related to: What are XRP futures and how to invest in them?
Approval possibilities for XRP ETF approval in 2025 height
Bloomberg Senior Local ETF He said The five XRP investment funds, including Gray, 21 Sharees, Wisdomtree, BitWise, Canary and Franklin Templeton, have an 85 % opportunity to agree after the change in the US Securities and Stock Exchange Committee (SEC).
This is a significant improvement in their prediction more than two months ago, which set the chances of XRP approval in 2025 by 65 %.
Likewise, betting XRP ETF approval possibilities By December 31, it now stands 80 % on Polymark. Over the past week, the possibility of approval swing 17 % in favor of the upcoming fans, which was about 63 % on April 23.
Meanwhile, on April 29, SEC was postponed its decision on Spot Spot XRP ETF from Franklin Templeton, setting a new final date in the review on June 17.
Approval of these circulating investment funds can open institutional capital, which inflates the demand for XRP. Although the approval schedules are still unclear, they will achieve a step towards the adoption of the XRP.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.