XRP has been stuck below the $2.5 resistance level for over a week, frustrating investors who expected a stronger rally. After briefly crossing $3 in early February, the price dropped to $2.1 during a market-wide crash on February 3. Despite a relief bounce to $2.7 the next day, XRP has struggled to regain momentum, currently trading at $2.38.
Will an ETF Approval Spark a Breakout?
Optimism around a potential XRP exchange-traded fund (ETF) has fueled speculation about a massive price surge. Some analysts predict XRP could skyrocket to $10–$50 with ETF approvals, while others believe a rally to $30 is possible. However, without fresh bullish catalysts, XRP risks dropping to its $2 support level.
SEC’s Decision Expected on February 13
The U.S. Securities and Exchange Commission (SEC) is expected to acknowledge Grayscale Investments’ application to convert its XRP Trust into a spot ETF by February 13. Grayscale’s move aims to make XRP investments more accessible by allowing shares of the fund to be traded on the New York Stock Exchange.
A key factor in this decision is the SEC’s stance on XRP, especially after a federal court ruled that XRP is not a security when traded on secondary markets. This ruling could influence the agency’s decision on the ETF approval.
High Approval Odds but Uncertain Price Action
Polymarket bettors estimate an 81% probability that an XRP ETF will be approved this year. However, despite this optimism, XRP has entered a bear market, losing nearly 30% from its January peak as trading volume and futures open interest decline.
With XRP stuck at $2.5 resistance, the upcoming SEC decision could be the catalyst for a breakout—or another price drop. The crypto community now waits to see if February 13 will be a turning point for XRP.
