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Key takeaways:<\/strong><\/p>\n XRP ETF approval odds rise to 85% following a SEC leadership change.<\/p>\n<\/li>\n Analysts predict XRP could rise to new all-time highs again in 2025.<\/p>\n<\/li>\n<\/ul>\n XRP price dropped by 5% over the past 24 hours as US GDP data showed a shrinking economy<\/a>. <\/p>\n However, a strengthening market structure and investors’ growing hope for a spot XRP ETF approval in the United States suggest that the altcoin might revisit its April peak at $2.36 in the short term. <\/p>\n Technical charts currently show XRP (XRP<\/a>) trading within a falling wedge pattern. A “falling wedge” is a bullish reversal chart pattern that comprises two converging trend lines that connect lower lows and lower highs. This convergence indicates weakening downward momentum. <\/p>\n The pattern will resolve when the price breaks above the upper trendline at $2.40, and if this happens, buyers could target $3.74 next, representing a 71% increase from the current price.<\/p>\n The relative strength index<\/a> (RSI) is above the midline, indicating that the market conditions still favor the upside.<\/p>\n However, to sustain the ongoing recovery, XRP price has to first hold the support at $2.20 and then overcome the resistance between $2.80 and $3.00.<\/p>\n Several analysts remain optimistic about the altcoin’s ability to rebound to all-time highs, with popular trader Dark Defender saying<\/a> that the ongoing correction is part of an Elliott Wave pattern that will eventually see “XRP continue its climb to the top.”<\/p>\n Fellow trader Allincrypto believes<\/a> XRP is “heading to $19.27” based on a breakout from a falling wedge pattern.<\/p>\n “Where we are pulling back is textbook perfect, and we had highlighted a falling wedge that was present on XRP that ultimately was just going for a continuation to $19.27.”<\/p><\/blockquote>\n Related: <\/strong><\/em>What are XRP futures and how to invest in them?<\/strong><\/em><\/a><\/p>\n Bloomberg senior ETF analysts said<\/a> that the five spot XRP ETFs, including Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton, have an 85% chance of approval after the change in leadership<\/a> at the US Securities and Exchange Commission (SEC).<\/p>\n This is a significant improvement from their prediction over two months ago that set the chances<\/a> of an XRP approval in 2025 at 65%.<\/p>\n Similarly, the betting odds for an XRP ETF approval <\/a>by Dec. 31 now stand at 80% on Polymarket. Over the past week, the probability of approval has swung 17% in favor of the bullish masses, which was around 63% on April 23.<\/p>\n\n
Approval odds for an XRP ETF approval in 2025 rise<\/h2>\n