Is XRP ETF Next? Will This Fuel XRP Price To ATH?

Digital asset XRP, which is supported by Ripple, continued to suffer from short-term bearish sentiment over the weekend and had dropped to 63 cents at the beginning of the Asian market on Monday. Last week, the closing marks in XRP’s candlestick showed uncertainty, a sign known as the Doji nowerday. Additionally, following the recent judgement from Judge Analisa Torres in the U.S., bullish hopes have seen a significant decrease. XRP being one of the few digital assets with regulatory approval in the States garners the possibility of an Exchange Traded Fund (ETF) in the near future. This could be an avenue that leads to strong uptrends. Currently, day to day transactions across XRP has exceeded that of the Ethereum Network, representing higher volumes of investor purchase and holding. To add to this, considerable activity has been seen in the XRP Whale. If approved, an XRP ETF could build further bullish expectation beyond the all-time high of $589. On the daily chart, XRP seems primed for a potential bounce in price from 63 cents to the high 70 cents zone. Although previously expectations due have featured an ABC correction to 54 cents price level, according to Cheeky Crypto, continued bearish pressure could see XRP slip towards $48.

Perhaps not all developments have seen a slide in crypto markets as Cheeky Crypto’s analyst Nick depicted their bulls on the weelky timeline, suggesting potential price oscillation between $5.4 and #11 soon. This, although not indicating the sharp rises first audiences were speculating since July i.e. above $589, would indicate reborn hope. Highlights played in attention to the truth that exponential gains predicted to a point of $10,000 on XRP may have been too idealistic.

Robert Wilson author
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