XRP Surges as Probability of ETF Approval Soars to 85%
XRP Surges 4%, Bullish Trend on the Horizon as US Spot ETF Approval Odds Soar
The digital coin XRP has seen a solid 4% rise in the past 24 hours, as investor optimism soars due to the increasing chances of a US XRP Spot ETF approval. This upswing in sentiment comes hand-in-hand with improving technical indicators – the RSI rebounding to a neutral point, and the price remaining just above the Ichimoku Cloud.
Is XRP's Momentum Shifting?
XRP's Relative Strength Index (RSI) has bounced back from 36.51 to 50.40 in the last 24 hours, having earlier peaked at 70.95 on April 28. This shift indicates a decrease in the selling pressure following a steep fall, placing XRP within a more neutral technical zone. While the RSI hasn't quite reached bullish territory yet, the upward trend can often signal a potential shift in momentum, especially if it continues climbing in the days to come.
The RSI is a momentum oscillator that measures the speed and strength of price movements on a scale of 0 to 100. Readings above 70 generally suggest an overbought asset that might be due for a correction, while readings below 30 signal oversold conditions potentially setting the stage for a rebound.
Range-bound XRP with Bullish EMA Structure
Right now, XRP is trading within a tight range, hovering around $2.22[2]. The 50-day Simple Moving Average ($2.22) aligns with the current price, while the 200-day SMA ($1.91) serves as a strong long-term support[5]. However, the bullish Exponential Moving Averages (EMAs) remain in play, as shorter-term lines are above the longer-term ones, suggesting upward momentum[5].
If the $2.15 support is tested once more and breached, XRP could slump down to $2.03 and potentially $1.90. A break like that could put the bullish structure in jeopardy. Conversely, a successful breakout above the $2.30 resistance would launch a new surge, especially if accompanied by a move beyond the $2.36 level[5].
As long as the EMAs maintain their existing structure, the bulls retain the upper hand, keeping bullish hopes alive for those targeting $2.50 and up to $2.64[3]. Nonetheless, a decisive move beyond the current trading range is needed to confirm the next directional trend.
Caution Ahead
The Ichimoku Cloud chart suggests that XRP is trading just above the cloud, a zone often acting as dynamic support in bullish scenarios. However, the cloud ahead has turned red, signaling potential resistance and a weaker trend outlook[5]. Furthermore, the Tenkan-sen (blue line) and Kijun-sen (red line) are close together and fairly flat, reflecting weak short-term momentum.
The upcoming days could prove crucial, as they may determine whether XRP breaks above resistance and rides the wave of the emerging ETF narrative, or faces further setbacks due to the red cloud acting as a barrier.
Now, how about that $10 bonus from eToro? Sign up, deposit $100, and get started[6]. And remember, while this analysis offers insights, it may not be financial advice. Always do your own research and consider consulting a professional before making any investment decisions.
Sources:
[1] Jason, A. (n.d.) XRP Price Prediction, Forecast and Analysis 2025 - Digital Coin Price [Online] – Available here[2] CoinMarketCap. (n.d.) XRP Historical Data [Online] – Available here[3] Horwitz, J. (2022, November 7) XRP Price Forecast - Ripple's Warren Delong Says a Spot ETF Approval Could Propel XRP to $3.40 [Online] – Available here[4] Capel, O. (2022, November 15) XRP Price Prediction: Why Ripple's Token Could Drop 30% to $1.55 [Online] – Available here[5] CoinCodex. (2025, May 1) XRP Price Prediction 2025 [Online] – Available here
- Amid rising optimism and the increased likelihood of a US Spot ETF approval for XRP, the digital coin has surged by 4%.
- The Relative Strength Index (RSI) for XRP has bounced back from a neutral reading to a more bullish territory, indicating decreased selling pressure and a possible shift in momentum.
- XRP's technical indicators show a bullish Exponential Moving Average (EMA) structure, with shorter-term lines hovering above the longer-term ones, suggesting upward momentum.
- The bulls maintain the upper hand as long as the EMAs maintain their existing structure, with targets for the bullish trend at $2.50 and above.
- However, the Ichimoku Cloud chart indicates potential resistance and a weaker trend outlook ahead, as XRP is trading just above the cloud, which has turned red.
- The upcoming days could determine whether XRP breaks above resistance, rides the wave of the emerging ETF narrative, or faces further setbacks due to the red cloud acting as a barrier. Meanwhile, remember that while this analysis offers insights, it is not financial advice, and it's always best to do your own research and consider consulting a professional before making any investment decisions.
