The US Commission on Securities and Exchange (SECs) has currently been officially recognized by the Spot XRP ETF, which serves in Greyscale and Nyse Arca.
This returned the positive feelings around token. Since Bitcoin and Ethereum ETF have already been approved, many analysts believe that XRP may be as follows.
This regulatory development can open a door for significant institutional money. Estimates show that during the first year after approval, 4 billion to $ 8 billion can pass.
XRP is traded about $ 2.55, after the last increase in prices, and XRP is faced with a strong resistance at 2.91 dollars. This price level is important and can decide whether XRP rises this weekend.
If buyers push the price of this moment, XRP can rise to $ 3.15. However, at this level the main descending line of the trend awaits.
Mixed signals in the XRP market
Right now, a market impulse shows mixed signals. XRP holds above 20 and 50 EMA in a 4-hour diagram.
RSI is about 68 years old, which means that although XRP is approaching overdeters, there is still interest. If the XRP remains higher than the support level of $ 2.52, the traders can see the impetus above the resistance on the weekend.
But if it cannot exceed $ 2.91, a short -term decrease in $ 2.37 is possible. This area of $ 2.37 was a reliable support zone during previous prices for prices.
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Can XRP break $ 3.40 or transfer a refusal?
The movement of the XRP price largely depends on whether the buyers can create a sufficient impulse to break through the current resistance zones.
If there is a stable breakthrough above $ 3.15, expect a faster transition to $ 3.40. If this level is also violated, XRP can expand its benefits by $ 3.80 in the coming days.
On the other hand, if the XRP deviates at the level of $ 2.91 or $ 3.15, it can re -check support in the amount of $ 2.52 and $ 2.37. The fall below these levels will signal the greater pressure of the sale, potentially pulling the XRP to 2.20 dollars.
Traiders must look for confirmation signals. The stability of the price above $ 2.91 implies stronger bull sentiments. Nevertheless, no retention of more than $ 2.52 may indicate a greater risk of lack.
Market moods: carefully optimistic
Several large control assets, including Wisdomtree, Bitwise, 21Shares and Canary Capital, were also filed on the Spot XRP ETF. This shows the growing demand from traditional finance.
Analyst Bloomberg ETF James Seyffart called this news “The Greater News of the XRP in recent years.” He noted that the regulatory acceptance can significantly change the XRP market.
Given the institutional interest, everyone is wondering how ETF approval can affect the price of XRP. According to this new information, the focus goes to key technical levels. These levels can determine the following basic price swing.
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XRP still looks optimistic, but the next few days will be the key to seeing whether it can break through important resistance levels.
If customers manage to return 3.15 dollars, the market can see an updated impulse. Nevertheless, traders should be careful, since the resistance remains strong at 3.40 dollars.
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