XRP Traders Expect New All-time High
05 May, 2025 ● Coin news
XRP may be poised to retest its April high of $2.36 in the near future, thanks to improving market structure and increasing optimism among investors regarding potential approval of a spot XRP ETF in the U.S.
According to technical indicators, XRP is currently moving within a falling wedge pattern.
A "falling wedge" is a bullish reversal formation defined by two descending, converging trendlines that trace lower highs and lower lows. This narrowing of movement suggests weakening bearish pressure.
If the price manages to break through the wedge’s upper boundary at $2.40, it could trigger a bullish push toward $3.74—representing a 71% gain from current levels.
The relative strength index (RSI) currently sits above the midline, pointing to a market environment that still supports upward price action.
Still, for this recovery to maintain momentum, XRP must first hold its ground above $2.20 and then break through the resistance zone between $2.80 and $3.00.
Market sentiment remains positive, with several analysts expecting the altcoin to climb back to record highs.
Popular trader Dark Defender said the recent pullback aligns with an Elliott Wave structure, predicting that it will eventually lead to “XRP continue its climb to the top.”
Another trader, Allincrypto, offered a bold price target, stating XRP is “heading to $19.27” following a breakout from the falling wedge:
“Where we are pulling back is textbook perfect, and we had highlighted a falling wedge that was present on XRP that ultimately was just going for a continuation to $19.27.”
According to Bloomberg’s senior ETF analysts, the chances of a spot XRP ETF being approved have risen to 85% following changes in leadership at the U.S. Securities and Exchange Commission (SEC).
This projection includes applications from Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton. This marks a sharp increase from their earlier estimate of 65% just two months ago. The shift in sentiment is also reflected in prediction markets.
On Polymarket, the odds of an XRP ETF being approved by December 31 now stand at 80%. That’s up 17% from April 23, when the probability was just 63%.
Meanwhile, on April 29, the SEC announced a delay in its decision on Franklin Templeton’s application, setting a new review date for June 17.
If approved, these ETFs could attract significant institutional investment, increasing demand for XRP.
Although the timeline remains uncertain, such a development would be a meaningful step toward broader adoption.
Sources:
https://www.tradingview.com/x/aWim3rM1/
https://x.com/DefendDark/status/1916465853660287261
