In the past 24 hours, XRP's value has dropped by about 4%, linked to new announcements from BlackRock. Analysts discuss prospects for future growth.
Price Decline of XRP
XRP's price ranged between $3.14 and $3.15, down from $3.5 last week. This decline has been triggered by new statements from BlackRock that there are no ETF plans for XRP.
Analysis of Current Trends
Analyst CrediBULL Crypto noted that a 10% decline provided an entry opportunity for investors. He believes if support holds, XRP may rise again toward the upper end of its range. Another expert, Ali Martinez, believes that crossing the $3.27 mark could lead to a target of $3.60.
Status on Potential XRP ETF Approval
Despite the SEC closing its lawsuit against Ripple, expectations for an ETF approval were tempered by BlackRock's statement. The approval probability has fluctuated between 75% and 90% and currently sits at 81%. Canary Capital CEO Steven McClurg stated that a potential XRP ETF could outperform similar offerings for Ethereum.
The analysis of the current situation surrounding XRP shows a mix of negative news and potential for further growth. Interest from major investors remains, which may provide renewed hope in the market.
