Why Is XRP Up Today?
The XRP price has displayed a strong bullish recovery this week by adding over 20% to its valuation. This price surge comes after rising speculations of a possible ETF and the U.S Securities and Exchange Commission (SEC) officially accepting to review the Grayscale XRP ETFs proposal!
With a potential XRP ETF approval around the corner, is this a good time to invest in Ripple tokens? Moreover, investors and institutions are closely monitoring the price action with questions like “What happens if XRP gets ETF?” Are you concerned about its short-term prediction? Read our latest short-term Ripple price analysis today!
The price of XRP has jumped ~11% in 24 hours with a trading volume of $8.988 billion, a change of +72.94%. Moreover, it has surged ~20% over the last seven days, highlighting an increase in the buying-over-selling pressure for the altcoin in the market.
The Moving Average Convergence Divergence (MACD) displays a constant rise in the green histogram with its averages recording a bullish convergence in the daily time frame. This highlights that the 03rd largest crypto token may continue gaining value.
On the other hand, the SMA indicator witnesses a positive crossover in the XRP price chart. This suggests a strong bullish action for the altcoin in the cryptocurrency space.
Suppose, the market favors the bulls, in that case, the Ripple price could retest its immediate resistance level of $3.00. Maintaining the price above that level could set the stage for this altcoin to head toward its upper resistance level of $3.50 this month.
Conversely, if the bears outrun the bulls, the XRP coin price could retest its support level of $2.50. Furthermore, if the bearish sentiment intensifies, this altcoin may plunge toward its crucial low of $2 in the coming time.
Planning on investing in more XRP tokens but are concerned about its long-term possibilities? Read out the latest XRP Price Prediction 2025, 2026 – 2030 to uncover the mysteries!
As per the latest updates, the SEC has started acknowledging the filing for XRP ETF from “NYSE and Grayscale” starting today.
If the bullish sentiment sustains, the price of Ripple could reach a maximum trading value of $16 by 2030.
At the time of writing, the value of one XRP token was $2.7887.
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