{"id":42535,"date":"2025-02-07T11:40:55","date_gmt":"2025-02-07T11:40:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=42535"},"modified":"2025-02-07T11:40:55","modified_gmt":"2025-02-07T11:40:55","slug":"3-reasons-that-ripple-xrp-is-preparing-for-a-major-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=42535","title":{"rendered":"3 Reasons That Ripple (XRP) Is Preparing for a Major Rally"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Spot XRP ETF filings from well-known financial players could boost institutional and retail investment in the asset if approved.
\nWhales accumulated millions of tokens during the dip, and the RSI briefly dropped below 30, suggesting a potential price rebound.<\/p>\n

<\/a><\/span><\/h2>\n

The Potential Catalysts<\/h2>\n

Ripple\u2019s XRP did not start the business week on the right foot, briefly tanking below $2 during the market correction <\/span>witnessed<\/span><\/a> on February 3. In the following days, the bulls reclaimed some lost ground, but the price remains deep in the red <\/span>on a weekly scale<\/span>, currently trading at around $2.37 (per CoinGecko\u2019s data).
\n<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

Despite the bearish environment, some essential factors hint that a move to the upside could be incoming. On February 6, Cboe BZX Exchange lodged<\/a> 19b-4 filings <\/span>on behalf of<\/span> Canary Capital, WisdomTree, 21Shares, and Bitwise. The well-known asset managers seek to list the first spot XRP exchange-traded funds (ETFs) in the USA.<\/span><\/p>\n

The filings represent a formal request submitted to the US Securities and Exchange Commission (SEC). The agency must approve or reject the application, often within 240 days.<\/span><\/p>\n

A potential green light would grant American investors additional options to gain exposure to Ripple\u2019s native token, which could create upward pressure on its price.\u00a0<\/span><\/p>\n

The<\/span> whales\u2019 activity <\/span>is another factor worth observing. The popular<\/span> X user Ali Martinez <\/span>revealed<\/span><\/a> that large investors <\/span>had<\/span> accumulated 520 million XRP (worth over $1.2 billion at current rates) during the latest dip.<\/span>\u00a0<\/span><\/p>\n

Whales seized the opportunity during the recent dip, buying 520 million $XRP<\/a>! pic.twitter.com\/v2Lu4uBMgm<\/a><\/p>\n

\u2014 Ali (@ali_charts) February 6, 2025<\/a><\/p>\n\n

Such actions reduce the <\/span>circulating supply of the asset<\/span>, possibly setting the stage for a rally (should demand keep its level or rise).<\/span><\/p>\n

Last <\/span>but not least<\/span>, we will focus on XRP\u2019s Relative Strength Index (RSI), which measures the speed and change of price movements. The technical analysis tool varies from 0 to 100, with readings below 30 indicating oversold conditions and a potential for a bounce. Earlier this week, the ratio <\/span>plunged<\/span><\/a> below the bullish mark, currently <\/span>set at<\/span> around 35.\u00a0<\/span><\/p>\n

Bonus: Garlinghouse and Trump<\/span><\/h2>\n

The president of the USA, Donald Trump, started his second term at the White House with a bang, signing<\/a> numerous executive orders and doubling down on his focus on the cryptocurrency industry. He reportedly <\/span>plans<\/span><\/a> to establish a crypto advisory council that may be comprised of some well-known names.\u00a0<\/span><\/p>\n

One of the people who could find a<\/span> place<\/span><\/a> there is Ripple\u2019s CEO, <\/span>Brad<\/span> Garlinghouse. The advisors\u2019 main role will be to design a comprehensive regulatory framework for the sector and work closely with Trump and David Sacks (whom the president <\/span>tapped<\/span><\/a> to serve as cryptocurrency and AI \u201cczar\u201d).\u00a0<\/span><\/p>\n

Garlinghouse\u2019s<\/span> possible connection with the White House could <\/span>have a significant impact on<\/span> Ripple\u2019s native token.<\/span> He might advocate for <\/span>clearer<\/span> regulations surrounding the asset, which has <\/span>faced<\/span><\/a> scrutiny from the US Securities and Exchange Commission (SEC) for years.<\/span><\/p>\n

Ripple\u2019s CEO and the American president have shown a close connection to each other, having<\/a> a dinner meeting at the Mar-a-Lago estate earlier this year.<\/p>\n

The post 3 Reasons That Ripple (XRP) Is Preparing for a Major Rally<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Spot XRP ETF filings from well-known financial players could boost institutional and retail investment in the asset if approved. Whales accumulated millions of tokens during the dip, and the RSI briefly dropped below 30, suggesting a potential price rebound. The Potential Catalysts Ripple\u2019s XRP did not start the business week on the right foot, […]<\/p>\n","protected":false},"author":0,"featured_media":42536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-42535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/42535"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42535"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/42535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/42536"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}