XRP News Today: XRP Holds Steady at $2.20 Amid Market Challenges, ETF Approval Hopes

XRP, the cryptocurrency associated with Ripple, has been holding steady at $2.20, showing modest gains of 1% over the past week and 1.5% over the past month. This stability comes amidst broader market challenges, with the overall cryptocurrency market experiencing a 2% decline in the past 24 hours due to concerns over the upcoming US tariff deadline. However, there are several factors that could potentially boost XRP's value in the near future.

One significant development is the high likelihood of approval for XRP ETFs. Analysts have given a 95% chance that these ETFs will gain regulatory approval, which could provide a substantial boost to XRP's price. Currently, there are ten XRP ETF applications awaiting evaluation, with many deadlines falling in October. This regulatory milestone could drive significant interest and investment in XRP, potentially leading to a price surge in the final quarter of the year.

In addition to the ETF approval prospects, Ripple has announced the launch of the XRPL EVM Sidechain. This new sidechain will bring Ethereum-compatible applications and smart contracts to the XRP Ledger, potentially increasing the utility and adoption of XRP. While this launch has not yet had a noticeable impact on XRP's price, it could have long-term benefits by expanding the use cases for the cryptocurrency.

Technical analysis of XRP's chart suggests that the cryptocurrency is on the brink of regaining momentum. The relative strength index (RSI) has recently crossed above 50, and the moving average convergence divergence (MACD) indicator is poised to turn positive. These technical signals, combined with institutional accumulation of XRP, indicate that now could be an opportune time to invest in the cryptocurrency.

According to the latest data from CoinShares, institutions have been accumulating XRP over the past week, making it the third-most-purchased coin behind Bitcoin and Ethereum. Additionally, Ripple has been locking up large amounts of XRP in escrow, further signaling confidence in the cryptocurrency's future prospects. If XRP ETFs gain approval and institutional adoption continues to grow, XRP's price could reach $2.50 in the near term and potentially approach $4 by the end of the year.

Looking further ahead, if Ripple successfully expands its cross-border payment solutions and stablecoin infrastructure, XRP could be on a trajectory to reach $1,000. This long-term growth would be driven by XRP capturing a larger share of global liquidity flows, positioning it as a key player in the digital asset ecosystem. However, these projections are based on analysts' forecasts and should be considered speculative.