- XRP dipped 5% but may rebound soon if it breaks out of a falling wedge pattern.
- Analysts predict a potential rally, with targets as high as $3.74 and even $19.27.
- Odds of an XRP ETF approval in 2025 have jumped to 85%, boosting investor optimism.
XRP took a bit of a hit—dropped 5% in the last 24 hours—after fresh U.S. GDP data came in weak, flashing signs of a slowing economy. But even with that dip, there’s still a decent buzz around XRP possibly retesting its April high of $2.36 soon, thanks to a stronger-looking market setup and growing chatter about an XRP spot ETF actually getting the green light in the U.S.
That wedge pattern? It’s looking kinda bullish
Zooming into the daily chart, XRP’s price is cruising inside this falling wedge pattern—yep, that bullish one where the highs and lows keep getting tighter. It usually hints at selling pressure fading out. Right now, XRP is floating around $2.23.
If (and that’s a big if) the price manages to break out above the top of that wedge—around $2.40—things could heat up fast. The next big target? $3.74. That’d be a 71% jump from where we are now, which, yeah, is no joke.
RSI is holding up… for now
Looking at indicators, the relative strength index (RSI) is still above the halfway mark. That means bulls aren’t totally out of gas. But for this bounce to stick, XRP really needs to stay above that $2.20 support. And after that? It’s gotta wrestle past the resistance zone between $2.80 and $3.00, which won’t be easy.
Analysts still feeling kinda bullish
Some traders still believe XRP’s got more in the tank. Dark Defender (big name in the XRP camp) says this correction is just part of a larger Elliott Wave setup—basically, XRP’s still marching higher, just taking its time.
Then there’s Allincrypto, who thinks XRP is on a path toward… $19.27. That’s based on a breakout from the same falling wedge pattern. He called the current pullback “textbook perfect,” which, okay, sounds a bit dramatic—but hey, that’s crypto for you.
XRP ETF odds are climbing, fast
Here’s where things get interesting. ETF analysts over at Bloomberg now say there’s an 85% shot that one of the five XRP spot ETFs—Grayscale, 21Shares, WisdomTree, Bitwise, Canary, or Franklin Templeton—gets approved in 2025. That’s up from 65% just a couple months ago.
And if you’re into prediction markets: Polymarket now has the odds of an XRP ETF approval by Dec. 31 sitting at 80%. That’s a 17% bump in just a week. Pretty wild swing.
On April 29, the SEC pushed back its decision on Franklin Templeton’s XRP ETF—new review deadline’s set for June 17. So yeah, more waiting.
A greenlight could change the game
If any of these ETFs get approved, it could pull in some serious institutional money. That’d boost demand and maybe… finally… push XRP closer to mainstream adoption. Nothing’s guaranteed, timelines are fuzzy, and delays are kinda normal at this point. But still—it’s looking more likely than ever.
