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XRP to experience more upside following major ETF announcement
XRP is witnessing strong bullish momentum following the SEC’s acceptance of Grayscale’s XRP ETF application. Although acceptance doesn’t imply immediate approval, it signifies that the SEC is taking XRP applications seriously.
Following this news, XRP’s 4-hour chart showed a bullish recovery from its corrective phase. XRP’s price moved above the horizontal resistance of a descending channel, positioning XRP toward its next resistance at $2.87. Closing above this level could confirm a broader reversal toward $3 and beyond.
XRP is currently selling for $2.80 following an intraday increase of 13.58%. XRP is trading above all its Exponential Moving Averages on the daily chart, confirming the potential upside. Since XRP’s RSI is still in the neutral zone, the ongoing rally could continue until the token hits a new all-time high price.
#XRP#