XRP ETF Rumors Spark Surge! Rally to $3.50 or Drop to $2?

Amid the rising speculation of the SEC acknowledging Grayscale’s 19b-4 filing for an “XRP ETF”, the XRP price has experienced a jump of over 2% overnight. Notably, with a potential XRP ETF approval, the Ripple price may head toward a new ATH shortly.

Will the approval of the XRP ETF by the SEC push its price toward a new ATH this year? Moreover, investors are curious with questions like “Will XRP price ever recover?” In this article, we at CoinPedia have uncovered the market sentiments and possible short-term Ripple Price Analysis just for you!

Ripple Price On The Verge Of A Major Breakout?

Amid increased market volatility, the XRP price has jumped ~2% in 24 hours with a trading volume of $5.446 billion, a change of +14.61%. Despite recording a correction of 3.57% over the last 30 days, the XRP coin price has soared 17.14% this year, suggesting a long-term bullish action.

The Simple Moving Average (SMA) is on the path of recording a bullish convergence in the daily time frame. This highlights an increase in the positive influence of altcoin on the cryptocurrency market.

Furthermore, the MACD indicator records a constant decline in the red histogram with its averages witnessing a high possibility of a positive crossover in the upcoming time. This suggests that the XRP price may continue gaining value this week.

Will Ripple Price Hit $3 This Week?

Suppose, the bullish sentiment sustains, in that case, the XRP coin price could surpass its immediate resistance of $2.5 and head toward its $3 mark. Maintaining the price above that level could push the price of XRP token beyond $3.5 in the coming time.

Conversely, if the Ripple price faces rejection at its resistance level of $2.5, this could result in it dropping toward its low of $2.25. Furthermore, if the bearish sentiment intensifies, the XRP crypto coin may plunge toward its important support level of $2 this month.

Are you one of many trying to understand the possibilities of this altcoin achieving a new ATH this altcoin season? Read our latest XRP Price Prediction today!

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