Will XRP Price Rally Trigger the Dormant Altseason & Mark a New ATH?
Since the beginning of this year XRP Price It has attracted great attention as the token soared by more than 70% and marked a 7-year high. In addition, optimism surrounding Ripple’s lawsuit with the SEC increased significantly after Donald Trump’s inauguration, indicating that major price action will be taken soon. Meanwhile, another bullish update is more confident about the XRP price rally, while the SEC acknowledges Grayscale’s spot ETF file.
Is this a new ATH loaded by XRP price due to the possibility of obtaining Spot XRP ETF approval in 2025?
After the SEC acknowledged that XRP prices rose significantly on purchase pressure, pushing the price higher by $2.50. At the same time, this does not seem to have a significant impact on prices, as market participants see approval as a bullish signal, not just an acknowledgement of the application. Along with XRP, the Doge ETF is also recognized, and similar to the XRP price, the Doge price is still stuck in the same range.
XRP’s daily chart shows that the price has dropped from the rising wedge, trying to verify the U-shaped recovery after testing the local bottom. While MACD suggests bullish, Ichimoku Cloud raises concerns about the next price action. +di is leaping towards a bullish crossover with -DI, triggering bearish divergence. This suggests that sales pressure is still extending in the rally, so the possibility of a pullback may not be ruled out.
Additionally, the volume is greatly reduced, which may slow down the speed of ongoing recovery. Therefore, prices are expected to maintain a slow trend until the purchase pressure does not grow and pushes the price higher than the key resistance at $2.8. On the other hand, the whale’s XRP is over $430 million, suggesting a strategic shift in the main holders. These large transactions may not affect the price, but flow in the direction of the whale’s movement.
Now that sentiment becomes bullish and the XRP ETF is more likely to be approved, the closure of Ripple’s lawsuit with the SEC could be the icing on the cake. So, XRP’s future prospects for 2025 seem very positive, as approvals and closer people may trigger strong gatherings above $4, intended to exceed $5 later this year.
