XRP's price has dropped by 2.5% today; however, this should not raise concerns as many altcoins are experiencing a minor correction. Meanwhile, significant events are expected that could influence the cryptocurrency's future.
Minor XRP Price Drop
Today, XRP price fell to $2.33. Ethereum shows a similar trend, with its price dropping by 4% during the same period.
Why May 19 Might Be a Turning Point
Analyst J4b1 predicts that a series of events may significantly alter XRP's future. A key event will be the launch of XRP futures ETFs by CME Group, expected today. Historically, the launch of futures ETFs for Bitcoin and Ethereum served as a catalyst for price increases. If XRP follows this path, it could unlock opportunities for a spot ETF in the U.S., considering that 11 XRP ETF applications have reportedly already been filed among more than 70 crypto-related proposals.
XRP Price Forecast for the Future
From a technical perspective, XRP price remains above key support at $2.30. If bulls can defend this level, analysts expect a short-term move back to $2.55 to $2.70. If spot ETF approval follows and Ripple resolves its legal battle with the SEC positively, XRP could target the $4 to $7 range in the current market cycle.
The launch of futures ETFs and changes in regulation could open new horizons for XRP. Accordingly, May 19 may turn out to be a key date for this asset, which has gained both political and economic significance.
