The price of XRP is climbing, up by another 8% over the past 24 hours and breaking through $3.30 levels for the first time since early 2018. This bullish trend comes amidst growing optimism about potential approval of an XRP ETF. As a result, Ripple‘s cryptocurrency has seen a staggering 60% increase in just the opening 17 days of the year 2025. Noted crypto analyst Ali Martinez suggests that this current surge could pave the way for a potential 5x increase in value from its current position.
Martinez demonstrated that the XRP digital currency exhibited a substantial shift on its monthly graph, exiting a symmetrical triangle structure. This technical exit implies an upward trend, and experts are forecasting a possible peak of $15. Furthermore, this advancement coincides with a more positive overall market atmosphere, sparking enthusiasm among traders about XRP’s potential rise in the near future.
Source: Ali Charts
XRP Price Surges on XRP ETF Approval Hopes
Major financial institutions such as JPMorgan are optimistic about obtaining approval for a spot Ripple ETF in the year 2025. These banking titans anticipate that the launch of XTP ETFs could attract between $4 billion and $6 billion in investments during their first year. The decentralized prediction platform Polymarket suggests that the likelihood of approval for an XRP exchange-traded fund (ETF) this year has significantly increased to 71%.
Odds an $XRP ETF is approved this year are soaring.
71% chance.
— Polymarket (@Polymarket) January 16, 2025
A friendlier Securities and Exchange Commission (SEC) could potentially clear the path for the endorsement of this ETF. In a recent interview with Bloomberg Television, Ripple’s CEO Brad Garlinghouse expressed that an XRP-based ETF is essentially unavoidable as institutional demand for digital assets grows steadily.
Looking Past the SEC vs Ripple Lawsuit
Regardless of the SEC’s appeal against the 2023 court decision regarding Ripple’s XRP transactions not being investment contracts, investors seem unfazed and are pressing forward. Moreover, there’s a growing sense of anticipation that the ongoing legal battle between Ripple and the SEC will be resolved definitively by the end of 2025. In response to this situation, Strahinja Savic, CEO of FRNT Financial Inc, expressed his views:
There’s a strong hope that Ripple might concentrate on increasing XRP’s usage and value if the ongoing SEC case resolves under the Trump administration. This optimism is further bolstered by the ‘XRP Army,’ an energetic and extremely loyal online community who are strong advocates for this digital asset.
Ripple CEO Brad Garlinghouse showed enthusiasm towards the cryptocurrency market under the forthcoming Trump administration. He highlighted Donald Trump’s appointments for a crypto leader and SEC chairman as significant factors contributing to positive developments. “The ‘Trump influence’ is already revitalizing crypto,” Garlinghouse penned down.
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2025-01-17 12:15