XRP hovers near $2.20 as growing ETF approval odds and bullish technical signals fuel optimism for a major price breakout.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
XRP BTC $95 119 24h volatility: 0.5% Market cap: $1.89 T Vol. 24h: $27.17 B has managed to stabilize after dropping to $1.65 earlier this month, now trading around the $2.20 mark. While the token is down by 2% over the past 24 hours, the increasing speculation of a spot ETF approval in the US has sparked bullish sentiment.
According to Bloomberg’s senior ETF analysts, five proposals, including those by Grayscale, Bitwise, and Franklin Templeton, now have an 85% chance of approval in 2025. This prediction is significantly up from the 65% odds projected just two months ago.
Would love to hear directly from Atkins, but all good chance of happening. Here’s our latest odds of approval for all the dif spot ETFs via @JSeyff https://t.co/nLhYJJmO9U pic.twitter.com/4AcJVwhics
— Eric Balchunas (@EricBalchunas) April 30, 2025
Meanwhile, Polymarket traders are keeping the current betting odds pricing at a 78% likelihood of XRP ETF approval before the end of the year.
Several market analysts believe XRP could soon revisit or even break past its April high of $2.36. Popular trader Dark Defender attributes the ongoing price drop to an Elliott Wave formation. He expects XRP’s current correction to form the base of the next bullish impulse.
People are getting distracted, but don't be.
Next week might be volatile.#XRP will continue to climb to the top.
I will make a projection for you for the Bull Run!
Tick-Tock ⏰ pic.twitter.com/vBKuakitne
— Dark Defender (@DefendDark) April 27, 2025
Another trader, Allincrypto, predicts even a bolder price target of $19.27. He pointed out that the fourth-largest cryptocurrency has recently broken out of a falling wedge on the daily chart.
🚨Bloomberg analysts have given 85% odds to $XRP ETF launches this year notwithstanding futures ETFs already given launch dates. Here's an update on the price chart and where XRP may be heading in 2025. pic.twitter.com/7FmCemyHHK
— ALLINCRYPTO (@RealAllinCrypto) April 30, 2025
He explained that XRP’s recent dip could be the final consolidation before a massive upside move. Notably, the token must breach the $2.25 resistance level to confirm its breakout potential, according to the analyst.
On the daily XRP price chart, the RSI currently stands at 52.49, suggesting neither overbought nor oversold conditions. This gives the token enough room for upward momentum based on trading volume.
XRP price chart | Source: TradingView
The Bollinger Bands are currently squeezing with the price hugging the middle band (20-day SMA). Such compressions generally result in sharp price movements. A daily close above the upper band (around $2.29) could ignite bullish momentum.
However, if XRP fails to hold the lower band (around $2.01), it may push toward the $1.85 support level.
The MACD has already crossed above the signal line, indicating that buyers are slowly regaining control. However, flat histograms suggest that the momentum is weak.
XRP price chart | Source: TradingView
A continuation of this trend could trigger more aggressive buying in the coming days.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
