Despite the fact that at present XRP trading below $2,50, down 3,5% in the last day, the token price could soar to a new all-time high as the SEC is very close to approving a spot ETF ( ETF ) based XRP .
The fact is that the US SEC has confirmed the filing of the fourth application for a spot XRP - ETF CoinShares via Nasdaq, ahead of Grayscale, 21Shares and Bitwise. There are also applications pending for ETF from WisdomTree and Canary Capital.
The emergence of investment products related to XRP , may lead to increased investment demand and liquidity. As a result, price movement XRP may gain upward momentum that will push the price up to $3 as early as February 25.
Crypto Analyst Dark Defender Identifies $2,6052 As Critical Price Point That Could Determine Next Bullish Move XRP until February 25. He suggests that if XRP can hold above the indicated mark and even rise above $2,77, the second phase of the bullish weekly structure may begin with a jump to $3.
At the same time, failure to break the resistance at $2,60 could trigger a pullback to the support area at $2,33, as indicated on the Dark Defender chart.
In terms of technical indicators, the Relative Strength Index (RSI) is currently reading 42,84, below the neutral 50 mark but trending higher.
Bollinger Bands (BB) suggest that XRP is trading near the mid-band, indicating a period of consolidation and the possibility of increased volatility around the forecast time frame of February 25.