🟨The U.S. Securities and Exchange Commission (SEC) has approved Grayscale’s application for a spot XRP ETF, potentially bringing up to $8 billion in institutional investments into the market.
🟨Following the rally, XRP is trading around $2.80, facing resistance at $2.91. If the price surpasses this level, further growth to $3.15 and $3.40 is possible. However, in the case of a pullback, key support levels are at $2.52 and $2.37.
🟨Several major firms, including WisdomTree and Bitwise, have also submitted applications for an XRP ETF, highlighting strong demand. Analysts believe that regulatory approval could be the biggest event for XRP in recent years.