XRP has been trading in a consolidation phase, fluctuating between a resistance level of $2.5 and a support level of $2.2. Currently, XRP’s price stands at $2.43, with a market capitalization of $141.49 billion and a 24-hour trading volume of $5.47 billion. As investors monitor price movements, many wonder whether a breakout is imminent or if XRP will continue facing resistance.
XRP’s Price Outlook: A Potential Breakout or More Struggles?
The U.S. Securities and Exchange Commission (SEC) plays a significant role in shaping XRP’s future. On February 13, the SEC is set to hold a closed meeting, sparking speculation that the discussions may include:
- An appeal against the Programmatic Sales of XRP ruling in the Ripple lawsuit
- Empower Oversight’s lawsuit seeking transparency over crypto-related conflicts within the SEC
- The expected acknowledgement of Grayscale’s XRP ETF application
These topics could have a lasting impact on XRP’s regulatory landscape and its price trajectory.
How the SEC’s Leadership Change Impacts XRP’s Future
Following Gary Gensler’s departure, Mark Uyeda has stepped in as the acting SEC Chair. However, the agency has not directed the Ripple case appeal. Market analysts believe a decision could be postponed until the confirmation of Paul Atkins, a nominee expected to bring a fresh perspective to the ongoing lawsuit.
Related article: Ripple’s XRP Gaining Momentum: Is a Major Breakout Coming?
XRP ETF Approval: A Game-Changer for Prices?
One of the most awaited developments in the XRP market is the potential approval of a Grayscale XRP-spot ETF. The SEC is expected to acknowledge the filing soon, and a decision could significantly impact XRP’s price action. The Grayscale XRP Trust, currently managing $16.1 million in assets, could attract substantial institutional investments if it gains approval for an ETF listing on the New York Stock Exchange (NYSE).
Investor Sentiment and Market Expectations
According to Polymarket data, 81% of investors believe the SEC will approve an XRP ETF by 2025. However, recent market trends suggest that expectations have entered a consolidation phase, reflecting uncertainty about the approval timeline and its impact on XRP’s long-term price movement.
Will XRP Surge or Continue Consolidating?
If the SEC approves the Grayscale XRP ETF, the market could experience an influx of institutional investors, driving demand and pushing XRP beyond the $2.5 resistance level. However, if regulatory uncertainty persists, XRP may remain range-bound, facing price fluctuations within its current trading channel.
