Ripple's cryptocurrency (XRP) received a significant boost after the U.S. Securities and Exchange Commission (SEC) officially approved a new multi-asset ETF from Grayscale.
XRP and the New Multi-Asset ETF
The SEC has approved Grayscale's new ETF that includes XRP along with Bitcoin, Ethereum, Solana, and Cardano. This ETF will become the world's largest multi-asset crypto fund, marking an important milestone for the industry.
XRP Price and Resistance Levels
Since the ETF announcement, XRP has seen an uptick in price action. The token has broken through a key resistance zone between $2.19 and $2.20. Traders are closely watching to see if it can maintain this level as new support. If XRP stays above $2.20, the next major resistance level is around $2.25, with forecasts suggesting a potential move towards $2.32-$2.35.
Analysts Discuss XRP's Future
Market expert Casi Trades noted that after reaching $2.30, XRP couldn't hold $2.25 as support and is now retesting the top of its prior consolidation range around $2.18 to $2.16. He warned that if it breaks below, the next support is near $1.90. However, early signs indicate that selling pressure is weakening, suggesting that this pullback may be temporary.
Given the recent ETF approval and current market conditions, XRP's price movement in the coming days will be crucial in determining the trend leading into the second half of 2025.
