XRP Rallies as ETF Approval Odds Rise – Is $5.85 the Next Target or Just Hype?

XRP Price Surge: ETF Approval Speculation and Ripple’s Strategic Expansion Fuel Bullish Momentum

XRP-USD Gains 3% as ETF Speculation Ignites Investor Hopes

XRP-USD has jumped 3% to $2.49, marking its best intraday gain in over a week. The rally is largely driven by increased speculation surrounding a potential XRP ETF approval by the U.S. Securities and Exchange Commission (SEC). Analysts suggest that the likelihood of an XRP ETF being approved has climbed to 65%, reinforcing investor confidence and sparking heightened trading activity.

Multiple asset managers, including CoinShares, Grayscale, 21Shares, Canary, and Bitwise, have already filed for an XRP spot ETF, signaling institutional interest in the asset. However, despite the growing excitement, the SEC has yet to acknowledge these applications, keeping uncertainty in play.

This anticipation has led to a surge in derivatives trading, with open interest in XRP futures increasing by $290 million in just 24 hours. This signals that traders are positioning for larger price swings, betting that a potential ETF approval could drive XRP well beyond current levels.

Adding to this bullish momentum, XRP’s funding rates have turned positive, indicating that traders are now willing to pay premiums to maintain long positions, further supporting the bullish narrative.

Ripple Expands Cross-Border Payments With Unicâmbio Partnership

Beyond ETF speculation, Ripple’s latest partnership with Portuguese currency exchange provider Unicâmbio is adding fuel to XRP’s rally. This deal is set to enhance cross-border payments between Portugal and Brazil, leveraging Ripple’s blockchain-based payment platforms to enable faster, more cost-efficient transactions.

The significance of this expansion cannot be overstated. Brazil and Portugal account for a $5.3 billion annual remittance flow, and Ripple’s technology could capture a significant share of this market. This move not only strengthens XRP’s utility in real-world financial applications but also deepens Ripple’s European footprint, positioning it as a dominant player in the global remittance sector.

Ripple’s Managing Director for the UK & Europe, Cassie Craddock, emphasized the importance of this move, stating:

“As the global cross-border payments market continues to expand, institutions like Unicâmbio are leaning in to benefit from the inherent advantages of blockchain technology.”

This development has led some analysts to revise their XRP price targets upward, as increased adoption could significantly enhance its demand and liquidity in the market.

Analysts Predict XRP Price Could Hit $5.85 – What’s the Roadmap?

XRP’s latest price action has sparked a wave of bullish price predictions, with well-known analyst Dark Defender outlining a short-term target of $5.85 and a long-term target of $8.76.

Dark Defender's analysis, based on Elliott Wave Theory, suggests that XRP has nearly completed its consolidation phase and is preparing for an explosive rally. The recent breakout above the 50-day Simple Moving Average (SMA) at $2.63 signals a bull market structure, reinforcing the case for a sustained uptrend.

Another well-followed trader, CasiTrades, believes that XRP is currently in Wave 4 of its intermediate cycle, with an anticipated Wave C push targeting $2.92. However, this bullish outlook is contingent on XRP holding above key support levels, specifically the $2.41-$2.27 range.

The next major resistance levels to watch are $2.78, $2.99, and $3.08. A decisive break above $3.00 would open the doors for a run toward $5.85, in line with Dark Defender’s forecast.

XRP/USD Technical Analysis – February 11, 2025

XRP is currently trading at $2.49, reflecting bullish momentum after breaking out of a descending trendline.

Key Support Levels:

• $2.41 – Immediate support
• $2.27 – Strong structural support
• $2.09 – Last line of defense before major breakdown

Key Resistance Levels:

• $2.63 – Immediate resistance
• $2.78 – 0.618 Fibonacci retracement level
• $2.99-$3.08 – Key breakout zone

Technical Indicators:

• RSI above 50 – Strengthening bullish momentum
• MACD turning positive – Confirming upward momentum
• 50-day EMA at $2.43 cleared – Bull market structure confirmed

A break above $2.78 could push XRP toward $3.00 and beyond, while failure to hold above $2.41 could trigger a retest of lower support levels.

Will XRP Follow Bitcoin’s ETF Success or Face SEC Roadblocks?

One of the biggest catalysts for XRP’s rally is the possibility of an ETF approval, but how realistic is this scenario?

Bitcoin’s spot ETFs were approved earlier this year, paving the way for altcoins like Ethereum and XRP to follow suit. However, XRP’s unique regulatory history with the SEC makes its case more complex.

Despite the SEC’s legal battle with Ripple, recent court victories for Ripple have boosted optimism. In 2023, a judge ruled that XRP sales to retail investors were not securities transactions, weakening the SEC’s case.

The main question now is:
Will the SEC approve an XRP ETF, or will regulatory hurdles keep institutional adoption on hold?

Institutional Demand and Whale Accumulation Suggest Bigger Moves Ahead

While short-term traders are fueling the current rally, on-chain data suggests whales are accumulating XRP, a sign that bigger moves could be ahead.

• XRP wallets holding over 10 million XRP have increased by 4.2% in the past two weeks, indicating that large investors are positioning ahead of a potential breakout.
• Trading volume has surged by 38%, confirming growing market interest in XRP.

These factors suggest that XRP’s price action is not just speculative hype but backed by real institutional demand.

Final Outlook: Buy, Sell, or Hold?

Based on current market conditions, technical indicators, and ETF speculation, XRP appears bullish in the short term, with $2.78-$3.00 as the next key levels to watch.

For traders looking for an entry point, a pullback to $2.41-$2.45 could provide a solid buying opportunity before the next leg higher.

For long-term investors, XRP’s increasing utility in cross-border payments, rising institutional demand, and ETF potential make it an attractive hold.

If XRP breaks above $3.00, it could confirm a strong uptrend and target $5.85-$8.76 over the coming months. However, failure to sustain above $2.41 could trigger a deeper pullback toward $2.09.

For now, bullish momentum is strong, but traders should monitor ETF developments and regulatory news closely as they will determine XRP’s next big move.

That's TradingNEWS