Main takeout:
As the US GDP data decreased, XRP prices have fallen by 5% over the last 24 hours.
However, according to the strengthening of the market structure for the US’s XRP ETF approval and the increase of investors’ hopes, Altcoin suggests that the April peak can be returned to $ 2.36 in the short term.
The technical chart shows the XRP (XRP) transaction with a low wedge pattern. “Falling wedges” are a strong reversal chart pattern that includes two convergence trend lines that connect the low lowest and the lowest. This convergence represents a weakening of downward momentum.
If the price rises to $ 2.40 from the top trend line, the pattern will be solved. If this happens, the buyer can increase 71% more than the current price, with the goal of $ 3.74.
The relative robbery index (RSI) is on the middle line and indicates that market conditions still prefer to rise.
However, to maintain continuous recovery, XRP Price must first have $ 2.20 support and then overcome the resistance between $ 2.80 and $ 3.00.
Some analysts say that Altcoin is optimistic about the ability to rebound at an all -time high, and the popular merchant Dark Defender says that the continuous correction is part of the Elliott par pattern.
The fellow merchant allies think that they are heading for $ 19.27 based on the brake out of the Wedge pattern with the XRP fall.
“The place we retreat is the perfect textbook, we emphasized the falling wedges that existed in XRP and ultimately continued to $ 19.27.”
relevant: What is XRP futures and how to invest?
Probability of approval of XRP ETF approval in 2025
Bloomberg’s chief ETF analysts include five branches of XRP ETFs including GrayScale, 21Shares, Wishares (SEC) has a chance to approve 85%after the leadership of (SEC) has been changed.
This has been greatly improved in 2025, with the possibility of XRP approval of 65%, two months ago.
Similarly, the probability of betting on XRP ETF approval by December 31 is now 80%in PolyMarket. The probability of approval over last week was 17%in favor of the strong public, which was about 63%on April 23.
Meanwhile, on April 29, the SEC delayed the decision of Franklin Templeton’s SPOT XRP ETF on June 17 and set a new review deadline on June 17.
The approval of such ETFs can unlock institutional capital to amplify the demand for XRP. The approval timeline is unclear, but it is a step toward the adoption of the mainstream for XRP.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.