XRP price climbed 2.3% on Wednesday, breaking past resistance levels as altcoin ETF speculation triggered renewed institutional buying pressure.
Ripple (XRP) breaks 14-day resistance as Bloomberg’s Chief ETF analyst hints 72 altcoin ETF applications
Ripple’s XRP token climbed 2.3% on Wednesday, crossing the $2.20 level for the first time in two weeks as ETF optimism gripped altcoin markets. The XRP price breakout follows a sustained consolidation below the $2.10 technical resistance zone that had capped gains since early April.
The broader crypto market witnessed moderate gains midweek, buoyed by expectations of a more favorable regulatory outlook following recent changes at the U.S. Securities and Exchange Commission.
Notably, Ripple price outperformed rival altcoins like BNB and Tron (TRX) on Wednesday. This is attributed to recent comments from Bloomberg’s Chief ETF Analyst Eric Balchunas suggested that the SEC may be nearing decisions on 72 altcoin ETF applications—most notably for XRP, Litecoin (LTC), and Solana (SOL).
Markets now pricing in 30% SOL ETF approval odds
Betting activity on decentralized prediction market Polymarket indicates that crypto investors have priced in a 32% chance of ETF approval for key altcoins. This reflects a 10% increase following the official swearing-in of Paul Atkins—known for his pro-crypto stance—as the new SEC Chair under the Trump administration.
Atkins’ appointment has heightened expectations that the regulatory body will pivot toward a more friendly stance on altcoin etfs in reviews, especially those with established market depth like XRP.
However, the current market structure also carries risks. With such high expectations, traders should be cautious of potential “sell-the-news” dynamics. Strategic investors may seek to offload positions upon official ETF approval, dumping on retail buyers.
Analyst Oscar Ramos $5 prediction remains in play
Technical analyst Oscar Ramos reaffirmed his long-term bullish outlook on XRP earlier this month, predicting the token could reach $5 by the end of 2025. In a video published on April 9, Ramos outlined an Elliott Wave scenario in which XRP completes a long-term bullish breakout, driven by institutional flows and regulatory clarity.
Since Ramos’ prediction, XRP has surged 33% from $1.72 to $2.25, reinforcing confidence in his medium-term thesis. The rally has coincided with heightened interest from ETF speculators and broader anticipation of increased altcoin legitimacy under the new SEC regime.
Should the ETF verdict fall in XRP’s favor and institutional allocations materialize, Ramos’ $5 target could shift from speculative to structurally plausible. However, any delays or unfavorable rulings would likely delay that timeline, reinforcing the caution as market trends remain volatile.
XRP Price Forecast Today: Resistance Retest Eyes $2.30, But Bull Trap Risks Linger
XRP price continues to trade within a cautiously bullish structure after gaining over 33% in the last two weeks, closing Wednesday at $2.2257. Price action on the daily chart suggests a breakout attempt from a tight consolidation range that held since April 10, with XRP briefly testing the upper Donchian Channel band at $2.3010. This level marks immediate resistance, and a daily close above it could validate bullish continuation toward the $2.50 zone.
The 14-day rally, measured from the recent $1.72 swing low, occurred on increasing volume (2.57B) and signals solid market participation, a key condition for sustainable upward momentum.
The RSI-based oscillator (RSiOMA) shows a strengthening trend, with the green RSI line crossing above its moving average and holding near 49, suggesting buyers remain in control, though not yet in overbought territory.
However, failure to breach the $2.30 resistance could expose XRP to a pullback toward the $1.95 midpoint support.
A decisive rejection here may fuel a short-term correction, particularly if broader market sentiment falters or traders sell the news following ETF verdict speculation. For now, the structure leans bullish with an eye on $2.30 as a make-or-break level.
The post Ripple (XRP) Price Forecast: Oscar Ramos Says XRP to hit $5 as SEC Nears Verdict on 72 Altcoin ETFs appeared first on CoinGape.
