XRP’s price has surged 8% from its recent low of $2.26 on February 7, now up 2% over the past 24 hours. Growing speculation around a potential spot XRP ETF approval in the U.S. has traders keenly watching for its next breakout.
XRP Fibonacci Levels Signal Possible Bullish Reversal
Crypto analyst CoinsKid notes that XRP’s price action since December 2024 reflects a complex expanded flat correction. The analyst suggests the token is nearing the final phase of a critical wave structure, which could precede a significant upward move.
Key takeaways from the analysis:
- The 2.618 Fibonacci extension level may mark the start of a final bullish wave.
- A parabolic surge toward $8 (1.272 Fibonacci retracement level) remains plausible.
- However, XRP is entering a "maximum risk zone," where reversals toward $0.388 (0.786 Fib level)** or **$0.82 (1.618 Fib level) could occur.
"How long the Wave 4 correction plays out is a guessing game, but I do think we could see a bigger macro Wave 5 up to $8 eventually."
— CoinsKid
ETF Approval Optimism Fuels XRP’s Bullish Momentum
Hopes for a spot XRP ETF have intensified following filings by Grayscale and Cboe BZX. FOX Business journalist Eleanor Terrett highlights that the SEC may soon acknowledge Grayscale’s 19b-4 filing, a critical step toward approval.
👉 Why an XRP ETF could revolutionize crypto investments
Key Developments:
- 65% chance of approval for XRP ETFs, per Bloomberg analysts.
- SEC acknowledgment expected by February 13 (15 days post-filing).
- Approval could unlock institutional capital, driving demand.
Pseudonymous analyst Easy predicts:
"An XRP ETF could be approved as early as Q2 2025. With no SEC roadblocks left, the path is clear."
FAQs: XRP Price and ETF Outlook
1. What’s driving XRP’s price surge?
Growing ETF speculation and technical patterns suggest a bullish reversal, with $8 as a potential target.
2. How likely is an XRP ETF approval?
Analysts estimate a 65% probability, citing recent filings and regulatory momentum.
3. What risks does XRP face?
Short-term volatility near key Fib levels ($0.388–$0.82) could precede a larger rally.
For real-time updates on XRP’s trajectory, check out 👉 the latest market insights.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Cryptocurrency investments carry risks; always conduct independent research.
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