After the announcement of the poor figures for economic growth in the United States on Wednesday, the XRP price thundered by 5%. In the meantime, the course is recovering, and according to analysts, XRP can now even reach an all-time high in the short term due to the pending ETFS approval for the currency in the United States.
85% kans op XRP ETFs in 2025
Eric Balchunas, a so-called ETF expert who works for Bloomberg, states that the chance of approval for XRP ETFS in the United States has increased significantly.
The election victory of Donald Trump yielded a change of guard at the American Securities and Exchange Commission (SEC), and that change was quite in favor of XRP according to Balchunas.
Earlier, of course, the lawsuit against Ripple, the parent company of XRP, was dropped. And now they see an 85% chance that the XRP ETFS will be on the market in 2025.
Also on polymarket people are increasingly optimistic about the approval of the XRP ETFS. There you now see an 80% chance of approval in 2025.
After the approval, it is of course questionable to what extent there is interest in XRP among ETF investors. The launch of the Bitcoin ETFS was a resounding success, but it was all a bit disappointing for Ethereum, and XRP is of course slightly more in that category.
XRP course on its way to $ 3.74?
The analysts of Cointelegraph currently see a lot of positive things for XRP in the graphs.
For example, they know how to detect a “falling wedge” in the graph above, and that is usually a positive signal for the course of a financial asset. Provided that the course, that of XRP in this case, manages to break through the top of the wedge.
That means that XRP has to shoot due to the level of $ 2.40, and that the rate could then move towards a target of $ 3.74. “That represents an increase of 71% from the current course,” said the analysts of Cointelegraph.
And that would yield a new all-time high for XRP.
Source: https://newsbit.nl/xrp-analisten-voorspellen-all-time-high-kans-goedkeuring-etf-naar-85/
