The XRP price has been on a bullish streak, gaining 50% from February’s lows as optimism surrounding a potential XRP ETF approval grows. Prediction markets, institutional interest, and broader market sentiment have fueled this rally.
A major catalyst behind XRP’s price surge is the rising probability of an XRP spot ETF approval. On Polymarket, a decentralized prediction platform, the odds of the SEC approving an XRP ETF in 2025 have soared to 80%. This comes as multiple firms, including Grayscale, CoinShares, WisdomTree, and Bitwise, have submitted applications.
Analysts believe the SEC under Chairman Paul Atkins will be more favorable toward crypto ETFs than the previous leadership. The regulator has already acknowledged Grayscale’s filing, marking an essential step in the review process.
Institutional Interest and Political Tailwinds
The pro-crypto stance of the current U.S. administration is further boosting confidence. Former President Donald Trump has nominated crypto-friendly officials to key regulatory positions, including Brian Quintenz, a senior official at Andreessen Horowitz (a16z), to lead the Commodity Futures Trading Commission (CFTC).
Institutional investors have taken note, leading to increased XRP accumulation. The market has also reacted positively to regulatory clarity following Ripple’s partial legal victory against the SEC in 2023.
XRP Ledger Tokens Rally in Tandem
The bullish momentum isn’t limited to XRP alone. Several tokens within the XRP Ledger ecosystem have seen double-digit gains. Notable performers include:
XRP price chart | Source: crypto.news
- XRP Army (XRPAY) – Up 26% in the last 24 hours
- XPmarket, BearXRPL, and DROP – Rising over 18% each
- Sologenic and Coreum – Posting strong gains this month
This ecosystem-wide rally underscores growing confidence in XRP and its underlying technology.
Technical Outlook: Resistance Ahead?
Despite the recent uptrend, XRP faces key resistance levels. The token has approached the Murrey Math Lines’ extreme overshoot zone, signaling a potential pullback. Additionally, signs of a Wyckoff distribution phase suggest a possible markdown period where investors take profits.
For further upside, XRP needs to break above last year’s high of $3.40. If it does, the next major target could be the psychological $4.00 level.
XRP’s rally is fueled by rising ETF approval odds, institutional interest, and a bullish broader market. However, technical indicators hint at possible resistance ahead. Investors will closely watch the SEC’s decisions in the coming months, as an XRP ETF approval could propel the token to new highs.
