XRP news today: XRP Price Surges 450% on 85% ETF Approval Odds
2min read Traders are increasingly optimistic about a potential rally in the price of XRP, driven by the surging odds of approval for an XRP Exchange-Traded Fund (ETF) in the U.S. The probability of approval has risen to 85%, according to analysts, fueled by recent leadership changes at the U.S. Securities and Exchange Commission (SEC).
An XRP ETF would allow institutional investors to gain exposure to XRP through traditional markets, potentially opening the floodgates to billions in capital. Bitcoin ETFs, launched earlier in 2024, have already seen nearly $39 billion in net inflows. If XRP ETFs attract even a modest 15% to 30% of that volume, it could send XRP into a major rally. For instance, a 15% share of Bitcoin ETF inflows would bring in about $5.85 billion, which could push XRP’s price to $12.23, representing a 450% gain from its current level of $2.22. If XRP ETFs pull in 30%, XRP could skyrocket to $22.20, a staggering 900% surge.
Momentum is building, with prediction platform Polymarket now placing the odds of an XRP ETF approval at 80%, up sharply from 68% last week. Major asset managers—Bitwise, wisdomtree, and Franklin Templeton—have all filed proposals. While the SEC has delayed its decision on Franklin Templeton’s XRP ETF to June 17, industry insiders believe that approval is becoming increasingly likely. Should that happen, XRP may follow in Bitcoin’s footsteps and witness a parabolic price explosion.
Market sentiment is turning increasingly bullish. We can expect XRP to reclaim its April peak of $2.36 in the short term, with fresh all-time highs likely in 2025. Popular trader Dark Defender sees the recent dip as part of a broader bullish pattern, while Allincrypto projects XRP could hit $19.27 in the longer run.
Despite the bullish ETF narrative, XRP price has dipped 5%, weighed down by weaker U.S. economic data. The altcoin is currently forming a bullish technical setup, and a breakout above $2.40 could send it straight to $3.74. For this upside to materialize, XRP must hold its ground above the critical $2.20 support and overcome resistance at $2.80–$3.00. If it does, the altcoin could enter a fresh rally phase.
The optimism surrounding XRP's price rally is further bolstered by the appointment of Paul Atkins as the new SEC Chair, which has been seen as a positive development for the approval of spot XRP ETFs. This shift in leadership has raised the approval odds to 85%, according to analysts. The regulatory environment has been a critical factor in the price movements of XRP, with the SEC's lawsuit against Ripple Labs in December 2020 adding to the uncertainty. However, the recent court ruling that Ripple’s sales of XRP to institutional clients constituted unregistered securities sales has not dampened the enthusiasm among traders.
Despite the regulatory holdup, the optimism remains strong. The potential approval of spot XRP ETFs has been a key driver of the bullish sentiment, with traders and analysts alike predicting new all-time highs for the altcoin. The approval of an XRP ETF would not only provide a significant boost to the price of XRP but also validate the cryptocurrency's status as a legitimate investment asset. The potential for ETF inflows to mirror the success seen with Bitcoin has been a recurring theme in the analysis, with some analysts predicting that XRP could hit $12–$22 in 2025 if the ETF is approved.
The legal issues surrounding XRP have been a significant factor in its price movements, with the SEC's lawsuit against Ripple Labs adding to the uncertainty. However, the recent court ruling has not deterred traders from predicting new all-time highs for the altcoin. The potential approval of an XRP ETF has been seen as a game-changer, with some analysts suggesting that it could drive the price of XRP to new heights. The regulatory environment remains a critical factor in the price movements of XRP, and the potential approval of an ETF would provide a significant boost to the cryptocurrency's legitimacy and appeal to investors.
