XRP News Today: XRP Surges 7% on Legal Win, ETF Approval Hopes Boost Price

XRP has regained attention as discussions about the approval of an XRP Spot ETF gain momentum. In a recent interview, Bitwise CIO Matt Hougan discussed the upcoming decisions for XRP and Solana ETFs, suggesting that approvals could occur as early as July, with official deadlines for many applications set in October. More than ten XRP ETF applications are currently under review, including those from Bitwise, Grayscale, Franklin Templeton, 21Shares, and Canary. Approval of any of these could trigger a significant price movement for XRP before the end of the year.

Technically, XRP’s price is stable with increased buying interest. Ripple’s application for a U.S. national bank license could strengthen its long-term outlook, although it hasn’t yet driven a significant short-term rally. The $2.26 to $2.45 zone is crucial; a break above this range could pave the way for a larger price movement. However, recent U.S. economic reports, including unemployment and inflation data, may influence market sentiment.

Analyst Casi Trades has set ambitious targets for XRP, predicting the price could reach at least $6.50, with plans to sell part of her position around $8. If XRP crosses $13, she believes it could reach as high as $26 by the end of 2025. When asked if XRP could hit $20 within the next 18 months, Casi suggested it’s possible if the coin maintains its strength during the next big rally.

The recent approval of the first XRP ETF by the U.S. Securities and Exchange Commission (SEC) has sparked significant interest and speculation. The approval has led to a flurry of activity, with XRP struggling to maintain its position above $2.20. Analysts suggest that reclaiming the $2.25 mark could ignite a rally, while the $2.16 support level remains critical. The approval of the ETF is seen as a major milestone for Ripple, potentially paving the way for increased adoption and mainstream acceptance of XRP.

Ripple's strategic partnership with OpenPayd for stablecoin expansion is another factor contributing to the optimistic outlook for XRP. This collaboration could further boost the price of XRP as it consolidates below the 50-day Exponential Moving Average (EMA) resistance. The technical structure of XRP appears robust, with the potential for significant gains if the current resistance levels are breached.

Assuming that XRP ETFs gain approval, some analysts predict that the price of XRP could reach $2.50 in the near future, with the potential to end the year close to $4. This optimistic forecast is based on the assumption that the ETF approval will drive increased demand and investment in XRP. However, others remain cautiously optimistic, awaiting confirmation from additional ETF approvals before revising their price predictions for 2025.

The legal victories and market momentum have also played a significant role in the recent price movements of XRP. A recent legal win sent XRP up by 7% in minutes, renewing discussions about a potential push toward $3–$5 by late 2025. The current price of XRP is influenced by a combination of regulatory developments, market sentiment, and technical indicators.

Ripple's application for a banking license has further fueled the bullish sentiment surrounding XRP. The gains following this announcement have pushed XRP to a falling wedge resistance level, whose breakout could trigger a rally to $3.96. The technical structure suggests that a trend change from bearish to bullish is imminent, with the RSI indicator actively defending the 50 mean level. This indicates that the momentum remains bullish despite facing some weakness.

In summary, the approval of the first XRP ETF has created a wave of optimism within the cryptocurrency community. The potential for significant price gains, coupled with Ripple's strategic partnerships and regulatory developments, positions XRP for a bullish run. However, the actual price movements will depend on various factors, including market sentiment, regulatory clarity, and technical indicators.