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XRP Price Trends: Appeal Strategy and XRP-Spot ETFs in Focus
XRP’s trajectory hinges on two key factors: the SEC’s appeal strategy and potential XRP-spot ETF approvals.
- If the SEC withdraws its appeal, XRP could rally past its $3.5505 all-time high, with $4 as the next target.
- A withdrawal combined with XRP-spot ETF approval would further boost investor sentiment.
- However, XRP could fall toward $1.50 if the SEC continues its appeal.
The SEC’s ETF decisions could also depend on its appeal strategy. With final deadlines in October, the agency has time to delay its ETF reviews. A withdrawal of the appeal would pave the way for XRP-spot ETFs, improving market confidence. However, approving ETFs while the appeal remains unresolved might create uncertainty among institutional investors.
XRP Price Action
Daily Chart
After the Bybit-fueled sell-off, XRP sits below the 50-day Exponential Moving Averages (EMA), while holding above the 200-day EMA. The EMAs send bearish price signals.
If XRP breaks above the 50-day EMA, the bulls may target $3 next. A return to $3 could signal a move toward the January 16 high of $3.3999. Favorable Ripple case-related news may bring the all-time high of $3.5505 into sight.
Conversely, a drop below $2.5 may enable the bears to target the $1.9299 support level and the February 3 low of $1.7024 next.
With a 14-day Relative Strength Index (RSI) reading of 45.83, XRP could fall to the $1.9299 support level before entering oversold territory (RSI below 30).
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