In the ever-entertaining world of cryptocurrency, XRP has managed to claw its way back from the February abyss, up a whole 8% from its $2.26 nadir. Over the past 24 hours, it’s mustered a 2% rise, which is about as exciting as waiting for water to boil. But hold onto your hats, folks, because the rumour mill is churning with talk of a U.S.-based XRP ETF getting the green light. Traders are so on edge they’re liable to jump at the sound of a pixelated pin dropping.
XRP’s Wild Ride: Is a Bull Run Around the Corner?
Enter CoinsKid, the crypto soothsayer, who has decreed that XRP’s recent price shenanigans are nothing more than a “complex expanded flat correction” since December 2024. I don’t know about you, but that sounds like a yoga pose I’d probably hurt myself trying.
According to our trusty analyst, XRP is teetering on the brink of a final, crucial move in its mysterious wave structure. You might want to hold onto your digital wallets for this one.
“The final 5th of the 3rd wave to the 2.618 Fibonacci extension level is about to begin, where I will become bearish on xrp for a correction once more.”
In a dazzling display of chart wizardry, CoinsKid has mapped out XRP’s past fluctuations, predicting a grand finale that could see the token surge to the dizzying heights of $8. It’s like watching a magician pull a rabbit out of a hat, except the rabbit might turn out to be a guinea pig.
“How long the Wave 4 correction plays out is a guessing game, but I do think we could see a bigger macro Wave 5 up to the 1.272 Fibonacci retracement level at $8 eventually.”
But before you go quitting your day job to become a full-time crypto cowboy, CoinsKid has a word of warning: XRP is now waltzing into the “maximum risk zone.” It’s like playing a game of crypto Russian roulette, except the gun might be loaded with blanks, or it might be very much loaded.
ETF Hopes Buoy XRP Like a Life Raft in a Stormy Sea
XRP’s potential ascent is being fueled by the warm, fuzzy feelings of optimism surrounding the potential approval of a spot XRP ETF by the SEC. Eleanor Terrett of FOX Business is the herald of this news, waving her chart-filled scrolls like a town crier.
Using a nifty chart from the ETF gurus at Bloomberg, Terrett hints that the SEC might give Grayscale’s XRP ETF dreams a nod as soon as this Thursday. Because, you know, the SEC loves to make decisions on a whim. 🙄
Terrett also helpfully points out that the SEC usually takes a leisurely 15 days to acknowledge a 19b-4 filing, which is about as quick as a snail in a molasses swamp.
“Either way, it should give us a good idea of how the current @SECGov commission is thinking about $XRP.”
Meanwhile, the ETF whisperers Balchunas and Seyffart are placing their bets on Litecoin, Solana, XRP, and the one and only Dogecoin to be the lucky winners of SEC’s approval. They’re giving XRP a solid 65% chance, which is better than the odds of finding a four-leaf clover in a concrete jungle.
“An XRP ETF could be approved as soon as Q2 2025 now that filings are in,” said Easy, the crypto analyst with the most chilled-out name, in a recent post. “With no SEC roadblocks left, the path is
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2025-02-13 16:43