SEC Reignites XRP Momentum
Yesterday, the U.S. SEC reviewed Grayscale’s application for an XRP ETF. While this doesn’t guarantee approval, the news has significantly boosted the altcoin’s price. The regulator officially acknowledged Grayscale’s ETF request and XRP’s legitimacy, now classifying it as a "decentralized network of computers" comparable to Bitcoin. This development brings hope to other altcoin-based exchange-traded funds, previously dismissed as speculative assets.
Specifically @Grayscale’s filing. pic.twitter.com/RgBMRHUbwf
— Eleanor Terrett (@EleanorTerrett) February 13, 2025
Adding to the momentum, platforms like Crypto.com are launching XRP-based futures contracts today, potentially attracting fresh capital. This series of events has triggered a bull run, with XRP gaining 14% in 24 hours to reach $2.76.
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Critical Weekend for XRP
Short-term bullish potential is evident, with crypto whales moving 430 million coins recently. The upcoming weekend is decisive: XRP has broken past $2.70, eyeing $2.90. Elliott Wave Theory suggests a possible surge to $3.10—a key threshold for parabolic growth.
Just bought #XRP! 🚀
Watch resistance levels- $2.67 & $2.95 🚨 pic.twitter.com/NHVPFB9sJR
— CasiTrades 🔥 (@CasiTrades) February 13, 2025
What’s next? Sustained movement above $3 could cement upward momentum, though profit-taking may pull prices back to $2.60 before a March rebound.
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FAQ Section
Q: Why is the SEC’s review significant for XRP?
A: It validates XRP’s legitimacy, potentially paving the way for ETF approvals and institutional adoption.
Q: What’s the immediate resistance level for XRP?
A: $2.95 is the next hurdle; breaking $3.10 could trigger a parabolic rally.
Q: How are whales influencing XRP’s price?
A: Large transactions (430M coins) indicate heightened activity, often preceding volatility.
Key Takeaways
- SEC’s nod fuels XRP’s legitimacy.
- Weekend price action could define mid-term trends.
- Watch $3.10 as a make-or-break level.
Disclaimer: This analysis is for informational purposes only. Conduct your own research before investing.