XRP news today: Dogecoin, XRP ETF Optimism Surges 20% on Approval Hopes

Optimism for Dogecoin (DOGE) and XRP-based exchange-traded funds (ETFs) is on the rise, with crowd sentiment shifting in favor of both tokens. Social data from Santiment indicates a significant increase in positive commentary and social dominance for both cryptocurrencies. This shift in sentiment is driven by the growing anticipation of potential ETF approvals, which has fueled bullish sentiment among investors.

Monitoring social commentary can be a valuable tool in a trading strategy, as positive chatter tends to support price rises, while negative chatter can fuel bearish trades. The recent surge in bullish sentiment surrounding Dogecoin and XRP is a testament to the power of social data in influencing market trends. Online discussions around XRP are skewed toward bulls, with few bearish outlooks, despite an overall drop in social discussions for XRP compared to other major cryptocurrencies. The perceived likelihood of a spot XRP ETF approval by the end of 2025 has risen to 85%, up from 65% just two months ago.

Such a boost in confidence comes despite the SEC’s recent decision to delay rulings on spot DOGE and XRP ETF proposals until June 17. Technical analysis remains bullish, showing strong accumulation patterns in the current market lull. Online tone for Dogecoin has shifted dramatically following the April filings by 21Shares and Bitwise for DOGE spot ETFs. Until late April, DOGE was in a prolonged lull in social attention, but its social dominance has now surged to a three-month high, according to Santiment.

The House of Doge and Dogecoin Foundation’s support for 21Shares’ application has added further credibility to the effort, helping DOGE shed some of its "memecoin" baggage. “After being seen mainly as a meme or joke coin, DOGE is now viewed as a more serious investment option with potential for wider adoption,” Santiment noted. “Analysts and traders have noticed heavy accumulation by whales, with bullish patterns forming in the charts, which has added to the sense that Dogecoin may be entering a new growth phase," it added.

Meanwhile, tokens like ether (ETH), Solana’s SOL, and BNB show mixed social signals even as bitcoin staged a recovery. The overall sentiment suggests that investors are increasingly confident in the prospects of these altcoins, driven by the potential for regulatory clarity and market approvals. The recent developments in Ripple's legal battle with the SEC have also fueled hopes for an XRP-spot ETF, creating a favorable environment for XRP despite some volatility. This bullish trend is further supported by the recent developments in Ripple's legal battle with the SEC, which has fueled hopes for an XRP-spot ETF. The key appeal abeyance in Ripple's case has created a favorable environment for XRP, despite the cryptocurrency experiencing some volatility. The overall sentiment suggests that investors are increasingly confident in the prospects of these altcoins, driven by the potential for regulatory clarity and market approvals.