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Wall Street JournalEN
XRP Spikes 2% As ETF Odds Jump To 85%: Is A Breakout Rally Ahead?
XRP (CRYPTO: XRP) is showing signs of renewed momentum, rising over 2% as optimism grows around a potential spot ETF approval.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP (CRYPTO: XRP) | $2.23 | $130.5 billion | +2.1% | +1% |
| Bitcoin (CRYPTO: BTC) | $96,754.44 | $1.9 trillion | +2.6% | +3.8% |
| Ethereum (CRYPTO: ETH) | $1,853.26 | $223.8 billion | +3.7% | +5.2% |
Trader Notes: Traders are turning bullish, citing technical breakouts and rising market interest.
Crypto trader The Cryptomist highlighted a recent breakout and successful retest on the XRP chart, noting a "bullish response" and setting a short-term target of $2.50.
Crypto trader Brett pointed out that significant liquidity is building near the $2.70 level, suggesting a potential price surge or liquidity grab if XRP tests that zone.
The concentration of orders could lead to heightened volatility or a rapid breakout, he noted.
Statistics: Coinglass data shows XRP liquidations reaching $2.8 million, including $2.04 million in shorts.
This indicates traders were caught off-guard by the price jump, a potential sign of shifting sentiment.
Open interest jumped 4.1% to $3.87 billion, reinforcing growing trader confidence in XRP's upside potential.
Community News: Ripple, the issuer of XRP, reportedly made a buyout offer for Circle, the company behind USDC.
According to Bloomberg via CoinDesk, the offer was rejected, though Ripple is said to still be interested in a deal, with no decision yet on a second bid.
Meanwhile, Bloomberg ETF analyst Eric Balchunas revealed that XRP ETF approval odds have surged to 85%, up from 65% earlier this year.
This comes as CFTC-regulated XRP futures launched on April 21, potentially paving the way for spot ETF listings.
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