The price of the XRP became green for four consecutive days as Ripple ETF Auds grew on polymarkat and most XRP laser tokens ralled.
Ripple (XRP) rose to $ 2.78 on Friday, marking its highest level this month and gained 50% with a February climb.
It came as a rally that the Securities and Exchange Commission would approve a spot XRP ETF this year. A Polymarket The prediction market, which has recorded $ 37,000 in volume, currently holds these obstacles at 80%.
Polymercate Auds have proved to be highly accurate in previous programs, including the previous US election, where he properly predicted Donald Trump’s victory.
Several companies, including Grassscale, Coinshrass, Wisdomi, 21 Shrace, Canary and Bitwaiz, have applied for a spot XRP ETF. Analysts believe that SEC under Paul Atkins will be more receptive to these applications during Gary Jensor’s tenure.
The SEC has already accepted the XRP ETF applications by Grassscale by publishing notice for its Form 19B -4 filing. This is an important step that occurs before the start of the 240-day review window.
The Trump administration has promised a pro-crypto stand, with several crypto-friendly officers appointed to major regulatory positions. This week, Trump nominated Brian Quintens to lead the Commodity Futures Trading Commission. Quintens, a senior A16Z official, has been involved in Crypto investment in many companies.
The price of XRP increased with profit in XRP laser ecosystem tokens. The XRP military jumped 26% in the last 24 hours, while XPMARKET, BearxRPL, and the drop increased by more than 18% in the same period. Other tokens including sologenic and quorum have posted double digits benefits this month.
XRP Price Technical Analysis: Profit may be limited
The weekly chart shows that the price of XRP has come up after the November rally this year. After falling at a bottom of $ 1.8012 last week, the token quickly increased to $ 2.78 today.
A hand -like candlestick pattern is formed, which is characterized by a short body and a long lower shade, a rapidly reverse indication. This pattern helps explain recent recovery.
However, the XRP has also approached the extreme overshoot zone of the dead math lines, indicating potential resistance. Additionally, signs of a Wyckoff delivery phase have come out, suggests a potential markdown phase where prices fall as a fall in prices.
For more reverse confirmation, the XRP will have to break above the high $ 3.40 of the previous year.
