The US Might Approve XRP ETF? Hold Your Horses, It Could Change Everything!

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Bitcoin‘s on a wild ride, folks. After testing the big $98.5k resistance in the last 24 hours (because who doesn’t love a challenge?), Ripple’s XRP ($2.66, in case you’re wondering) is making some moves of its own. This little altcoin has been creeping its way into bullish territory, all while quietly eyeing the $2.6-$2.8 resistance range. I mean, who doesn’t love a good underdog story?

Now, let’s talk about some numbers—just for the fun of it:

Bitcoin (BTC): $98,890
24h Volatility: 1.4%
Market Cap: $1.96T
24h Volume: $30.28B

XRP (Ripple): $2.66
24h Volatility: 1.7%
Market Cap: $153.87B
24h Volume: $3.30B

For those who don’t know, XRP’s been cruising around a fully diluted valuation of about $266 billion. And with a 24-hour trading volume pushing a solid $3.2 billion, it’s safe to say there’s some action happening behind the scenes. But, of course, it’s not all sunshine and rainbows.

On the charts, XRP’s been forming a nice little head and shoulders pattern—classic sign of impending doom… or maybe not. The RSI is giving off some “watch out” signals, and there’s low whale activity. But, hey, the market’s unpredictable, and macroeconomic uncertainty—thank you, tariff wars—is always lurking in the background like that one relative who shows up uninvited to dinner.

Now, switching gears to a more hopeful scenario. On the weekly timeframe, XRP’s been doing the dance of testing that crucial support/resistance level. And this one happens to line up with the 2021 all-time high (ATH). Now, if history has taught us anything, it’s that crypto tends to get a little rowdy after traders lose all hope. So, keep your eyes peeled.

Technical analysis time! XRP’s been forming a bullish pennant flag for the past three months. You know, like those flags that everyone waves when they finally get to break out of their six-year triangular consolidation. According to Elliott Wave theory, XRP’s almost done with its second wave—soon we’ll see that third wave and, hopefully, the much-anticipated price discovery. Yes, please! 🚀

But before we get too carried away, a little word of caution: If XRP drops below $2.25 and stays there, we’ll have to hit pause on the bull train for a bit. Just saying.

Spot XRP ETF Odds Rises

In some unexpected news that could totally change the game, fund managers from Grayscale Investments, Bitwise, Canary Capital, and WisdomTree have thrown their hats into the ring, filing with the US SEC to offer a spot XRP ETF. Just when you thought you had seen it all, right?

Earlier this week, the US SEC gave a little nod of approval to Bitwise’s spot XRP ETF filing, and suddenly, the chances of an approval are looking better than your chances of winning the lottery. The SEC also went ahead and posted Grayscale’s spot XRP ETF filing on the Federal Register this Thursday. And now we wait until October 18, 2025, for the SEC to make up its mind. Yep, that’s a long time to hold your breath.

After the announcement, the odds of the US SEC giving the green light to a spot XRP ETF by the end of 2025 jumped by a cool 1.1% on Polymarket. That brings the approval chances to around 81%. How’s that for optimism?

Meanwhile, Brazil’s already ahead of the game, having approved the world’s first spot XRP ETF by Hashdex. I guess the US is taking notes, because let’s face it, crypto adoption is coming whether the regulators like it or not. Oh, and let’s not forget US President Trump’s support for crypto regulations. If anything screams “change is coming,” it’s that.

In case you missed it, Trump recently posted an article about Ripple and XRP on Truth Social, fueling hopes that the ongoing Ripple vs SEC lawsuit could finally come to an end. You know, because what better way to rally the troops than with a little article share?

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2025-02-21 15:47