- XRP nears key resistance as bullish momentum fuels a potential breakout.
- SEC’s review of Grayscale’s XRP ETF filing boosts investor confidence.
- Market eyes Bitcoin’s influence on XRP’s next major price movement.
XRP’s price has surged 17% in the past week, sparking discussions about the driving factors behind its rise. The acknowledgment of Grayscale’s XRP ETF filing by the U.S. Securities and Exchange Commission (SEC) has increased investor optimism.
Although approval is uncertain, this move suggests a possible shift in regulatory sentiment toward crypto investment products. Market analysts emphasize key technical levels and Bitcoin’s role in XRP’s price movement.
XRP’s Price Action and Technical Trends
According to analyst CRYPTOWZRD, XRP’s daily candle closed strongly bullish, reinforcing positive market sentiment. The XRP/BTC pair has been gaining momentum, testing the 0.000028750 BTC resistance level.
A successful breakout could trigger a further price surge. Currently, XRP is approaching the $2.80 daily resistance zone, and surpassing this level may push the asset toward a new all-time high. Bitcoin’s movements and XRP/BTC’s performance will be crucial in shaping price action over the weekend.
XRP Daily Technical Outlook:$XRP closed strongly bullish and tested the $2.8000 resistance. I expect to see further upside pressure from its current location, which will eventually lead to more trades once our current trade is secured 🧙♂️ pic.twitter.com/iVmIgN8kna
— CRYPTOWZRD (@cryptoWZRD_) February 15, 2025
Intraday analysis shows significant volatility. CRYPTOWZRD expects increased price fluctuations above the $2.75 resistance point. If bullish momentum continues, XRP could rally toward the $3.03 resistance level. Traders are monitoring key signals for the next potential market move.
As of press time, XRP (XRP) is priced at $2.79, with a 24-hour trading volume of $6,548,201,023. The price has risen by 1.70% in the last 24 hours and 17.77% over the past week. With a circulating supply of 58 billion XRP, its market cap stands at $161,849,443,875.
Institutional Interest and Market Sentiment
Investor sentiment has strengthened following the SEC’s decision to review Grayscale’s XRP ETF filing. The SEC has historically been cautious in approving crypto ETFs, but its recent approval of Bitcoin spot ETFs suggests a shift.
The XRP ETF application is now under a formal review process, which could take up to 240 days. Public comments and regulatory assessments will influence the outcome.
Unlike Solana ETF applications, which faced immediate rejection, XRP’s filing was not dismissed outright. This difference indicates a changing regulatory perspective on digital assets. However, the path to approval remains uncertain due to ongoing regulatory scrutiny.
