Key takeaways:
XRP ETF approval odds rise to 85% following a SEC leadership change.
Analysts predict XRP could rise to new all-time highs again in 2025.
XRP price dropped by 5% over the past 24 hours as US GDP data showed a shrinking economy.
However, a strengthening market structure and investors’ growing hope for a spot XRP ETF approval in the United States suggest that the altcoin might revisit its April peak at $2.36 in the short term.
XRP/USD daily chart. Source: Cointelegraph/TradingView
Technical charts currently show XRP (XRP) trading within a falling wedge pattern. A “falling wedge” is a bullish reversal chart pattern that comprises two converging trend lines that connect lower lows and lower highs. This convergence indicates weakening downward momentum.
The pattern will resolve when the price breaks above the upper trendline at $2.40, and if this happens,