{"id":626616,"date":"2025-02-14T08:46:02","date_gmt":"2025-02-14T08:46:02","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=626616"},"modified":"2025-02-14T10:20:35","modified_gmt":"2025-02-14T10:20:35","slug":"xrp-price-prediction-ripple-token-jumps-3-as-sec-acknowledges-grayscale-xrp-etf-application-and-this-crypto-wallet-token-ico-races-towards-10m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/xrp-price-prediction-ripple-token-jumps-3-as-sec-acknowledges-grayscale-xrp-etf-application-and-this-crypto-wallet-token-ico-races-towards-10m","title":{"rendered":"XRP Price Prediction: Ripple Token Jumps 3% As SEC Acknowledges Grayscale XRP ETF Application, While This Crypto Wallet Token ICO Races Toward $10M"},"content":{"rendered":"

The XRP price jumped 3% in the last 24 hours to trade at $2.57 as of 12:11 a.m. EST on trading volume that rose 3% to $4.9 billion.<\/span><\/p>\n

The Ripple token’s pump comes after the US Securities and Exchange Commission (SEC) acknowledged an application by Grayscale to launch a spot XRP ETF (exchange-traded fund).<\/p>\n

This marks an important step in the approval process, signaling that the SEC will review the proposal.<\/p>\n

If approved, spot XRP ETFs would provide institutional investors with regulated exposure to XRP, potentially boosting market demand.<\/p>\n

XRP Price Analysis: Breakout From Consolidation Hints At Potential Upside<\/h2>\n

Over the past several days, the <\/span>XRP price<\/span> has been trading<\/a> within a tight range, forming a rectangular consolidation pattern between approximately $2.29 and $2.52, highlighted in purple.<\/span><\/p>\n

This pattern often precedes a breakout, and the price is now trying to establish a position above this upper resistance of this range, according to <\/span>GeckoTerminal<\/span><\/a> data.<\/span><\/p>\n

Before entering consolidation, the price of XRP experienced a sharp decline from above $3.20, with lower highs forming a bearish structure. However, the current breakout signals a possible reversal attempt.<\/span><\/p>\n

The 50-period Simple Moving Average (SMA) on the 4-hour chart at $2.4293 has been crossed to the upside, a bullish short-term signal. However, the 200-period SMA yellow, $2.8240, remains above the current price of the Ripple token, acting as a key resistance level.<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) is at 63.80, approaching the overbought zone but still indicating strength. This suggests increasing buying momentum without being overheated yet.<\/span><\/p>\n

\"XRP
XRP\/USDT Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Ripple Token Price Prediction<\/h2>\n

According to the XRP price analysis, the bulls may take charge of the price. If XRP can hold above the $2.57 mark (now support), a continuation towards the $2.82 level (200-period SMA) is likely.<\/span><\/p>\n

Breaking above the 200-period SMA could trigger a larger uptrend with a target near the $3.00 psychological level.<\/span><\/p>\n

If the price does not sustain above $2.57, it could retest the $2.42 support. A breakdown below this range would likely resume the bearish trend towards $2.20.<\/span><\/p>\n

In the meantime, investors are flocking to buy <\/span>Best Wallet (BEST)<\/span><\/a>, which popular YouTuber ClayBro, with over 136K subscribers, says is one of the best crypto wallets for 2025.<\/span><\/p>\n