Discussions regarding the approval of a Spot ETF for XRP are back in focus. This event could significantly impact the market and currency prices.
Discussion on XRP Spot ETF Approval
In a recent interview with Thinking Crypto, Bitwise CIO Matt Hougan noted that potential approval for XRP and Solana ETFs might occur soon, possibly as early as July, with official deadlines for many applications set in October. More than ten XRP ETF applications are currently awaiting review, including those from Bitwise, Grayscale, Franklin Templeton, 21Shares, and Canary.
Analysis of Current Market Levels
On the technical side, XRP’s price is holding steady with increased buying interest. Ripple’s move to apply for a U.S. national bank license might strengthen its long-term outlook, but it hasn’t driven a big short-term rally yet. The $2.26 to $2.45 zone is crucial; a break above this range could open the path for a larger move. However, today’s U.S. economic reports, including unemployment and inflation data, may affect market sentiment.
Price Predictions for XRP
Analyst Casi Trades has set her targets for XRP. She expects the price to hit at least $6.50, with plans to sell part of her position around $8. If XRP crosses $13, she believes it could reach as high as $26 by the end of 2025. When asked if XRP could hit $20 within the next 18 months, Casi stated that it’s possible if the coin can maintain its strength during the next big rally.
XRP’s next significant move depends on two factors: ETF decisions and upcoming market data. If ETF approvals arrive in the coming weeks, XRP may be on track for one of its biggest price surges in years.