Analysis of the current situation with XRP suggests that the coin continues to grow following a recent rally, despite short-term volatility.
Forecasting XRP's Short-Term Rally
According to EGRAG Crypto analysis, XRP could reach $2.65 within the next 2-3 months. He points to a bullish candle structure observed since January 2020. The analyst believes that the current dip is temporary and aimed at shaking out newer investors.
SEC Policy Change and ETF Access
Recently, the SEC unveiled new 'Listing Standards' for crypto Exchange-Traded Products (ETPs). The updated criteria require eligible coins to have at least six months of futures trading on regulated platforms, such as Coinbase’s derivatives exchange. Bloomberg expert Eric Balchunas noted that XRP, along with several other altcoins, now fits these criteria.
Current XRP Trading and Market Analysis
At the time of writing, XRP is trading at $2.94, down 6.74% over the last 24 hours. Despite this decline, analysts continue to monitor the coin for signs of bullish continuation, with market support evident in both technical patterns and emerging regulatory changes.
The situation with XRP remains under close observation by analysts, particularly given the new SEC standards and the potential rally to $2.65. The upcoming months may prove critical for further growth.
