XRP Price Drops 4% Amid Bullish Sentiment, ETF Approval Hopes

Renowned social media influencer John Squire has recently made waves in the crypto industry by asserting that the rise of XRP could lead to a surge in early retirements. On April 03, Squire shared a post suggesting that investors in Ripple could potentially earn enough to retire early, indicating an impending bull run. This statement has left traders and investors speculating about the possibility of a price rally, given recent favorable developments.

Squire's optimistic outlook is particularly relevant in light of the upcoming ETF approval and a recent closed-door meeting between the U.S. Securities and Exchange Commission (SEC) and Ripple. This meeting is expected to provide clarity on the ongoing lawsuit, which has been a significant factor affecting market sentiment. The SEC's decision to drop cross-appeals has further fueled speculation about a potential settlement or resolution in favor of Ripple.

Market watchers are hopeful that the conclusion of the meeting will bring regulatory clarity, particularly regarding whether XRP is classified as a security. Pro-crypto initiatives, such as the appointment of Paul Atkins as the new SEC chair, have also contributed to a bullish sentiment, suggesting that the lawsuit could end favorably for Ripple. This positive outlook could significantly boost the native crypto's value.

Additionally, the increasing likelihood of an XRP ETF approval has added to the bullish sentiment surrounding the coin. Market experts have predicted that an ETF approval is imminent, further bolstering the optimism about XRP's future prospects. According to the analyst's forecast, the odds of ETF approval by 2025 are at 75%, indicating a strong possibility of regulatory approval in the near future.

Despite recent price fluctuations, market sentiments remain optimistic. XRP's price experienced a slight decline, losing nearly 4% in value over the past 24 hours, closing at $2.04. This price action is attributed to a massive token unlock from escrow, which increased the asset's market supply. However, the overall market sentiment remains positive, driven by recent developments and the potential for regulatory clarity and ETF approval.