XRP continues to show positive dynamics, approaching a critical resistance level at $2.33 that may open the path for further growth.
Key Levels and Analysis
Currently, XRP has risen by 1.84% over the last 24 hours, reaching $2.26. Analyst Ali pointed to the $2.33 resistance level as a critical point for a possible breakout. According to him, holding the price above this level could lead to an increase up to $2.60. However, if the movement turns out to be false, the $2.00 level will provide strong support.
Optimism Surrounding ETF
With the anticipated launch of XRP as a spot ETF in the U.S., expectations in the options market remain positive. Bloomberg analysts suggest that the likelihood of SEC approving an XRP ETF is currently at 95%, significantly increasing the chances for successful launch.
Current Market Trends
The price of XRP against Bitcoin may also see an increase after breaking out of a falling wedge, which is a bullish reversal pattern. This pattern indicates that the price fluctuations within the converging trend lines suggest the pullback from April highs has concluded, with the overall bullish trend for XRP resuming.
With the approach to key resistance levels and growing expectations regarding the ETF, XRP maintains potential for significant growth. Investors and traders are closely monitoring the developments.
