XRP News Today: SEC Approves Grayscale Multi-Crypto ETF Including XRP XRP Price Surges 2.20%

The U.S. Securities and Exchange Commission (SEC) has approved a new multi-crypto ETF by Grayscale, marking a significant milestone for the cryptocurrency market. This ETF includes XRP, Bitcoin, Ethereum, Solana, and Cardano, making it the largest multi-token digital asset ETF to date. The approval is particularly noteworthy for XRP, as it is the first ETF to feature this cryptocurrency.

This development is seen as a major moment for XRP and its investors. Analysts suggest that the approval could pave the way for a dedicated XRP ETF in the near future. Spot ETFs, which follow the real-time price of cryptocurrencies, often lead to robust market momentum upon authorization. Following the ETF news, XRP’s price broke past the key resistance zone of $2.19 to $2.20. However, the token is now struggling to stay above this level. If it holds strong, the next resistance lies at $2.25, with a possible surge toward $2.32 to $2.35. But if it slips below $2.19, XRP could fall to around $2.10 or even $2.05.

Crypto analysts have pointed out that XRP has pulled back to retest the $2.18–$2.16 zone. While this isn’t a breakdown yet, losing the $2.16 level could send the price down to $1.90. On the flip side, a recovery of XRP above the $2.25 mark may drive a powerful bullish run to the $2.69 level and beyond. Initial indicators point to the fact that sellers are becoming weaker, and this decline may not be long-term.

The approval of the ETF is not just a win for XRP but also for the broader cryptocurrency market. It signals a growing acceptance of digital assets by regulatory bodies, which could pave the way for more ETFs and other investment vehicles in the future. This development is particularly significant for XRP, which has faced regulatory challenges in the past. The approval could help to alleviate some of these concerns and boost investor confidence in the cryptocurrency.

The ETF approval is also expected to bring in new inflows of capital into the XRP market. With support holding and bullish structures in place, XRP-USD is seen as a buy, conditional on a confirmed breakout above $2.35. The short-term target for the price stands at $2.69, according to the analysts' forecast. This bullish outlook is further supported by the fact that the price has shown a strong reaction to the news, with a powerful push towards the $2.45 zone.

The approval of the ETF is also expected to bring legal clarity to the XRP market, which has been a source of uncertainty for investors. With the regulatory green light, investors can now have more confidence in the future of XRP, which could lead to increased adoption and usage of the cryptocurrency. This, in turn, could drive up the price of XRP and make it a more attractive investment option.

In conclusion, the SEC's approval of the first XRP ETF is a significant development for the cryptocurrency market. It signals a growing acceptance of digital assets by regulatory bodies and opens up new avenues for investment. With the price of XRP showing early signs of a rally, investors are optimistic about its future prospects. However, it is important to note that the cryptocurrency market is highly volatile, and investors should exercise caution when investing in digital assets.