XRP price surges 10%: Potential ETF news boost for Ripple in June

XRP has seen a significant 10% surge in price this week, hitting $2.26 on Wednesday morning, marking the fifth consecutive day of gains amidst volatile altcoin markets. The rise in XRP price can be attributed to several key factors that are fueling this rally:

Firstly, there is a growing buzz around the potential approval of a spot XRP ETF by the SEC, with a decision expected by June 17. Many traders are speculating on this outcome, with analysts suggesting that an approval could lead to a rally similar to what Bitcoin experienced in 2024, possibly resulting in substantial institutional investments.

Secondly, Ripple’s recent legal victory in its battle with the SEC has clarified that XRP is not a security. This verdict has removed a major barrier for U.S. investors and opened the doors for broader adoption of XRP.

Moreover, Ripple has been expanding its global presence, with its stablecoin RLUSD securing regulatory approval in Dubai, forging new partnerships in the banking sector for cross-border payments, and preparing for the XRPL Apex Summit, which is expected to unveil AI-powered enhancements and DeFi tools.

In terms of technical analysis, XRP is currently trading between a support level of $2.19 and a resistance level of $2.50. A breakout above the $2.50 – $2.60 range could potentially drive prices towards $3.00 – $5.00. Despite a slight decline in the Relative Strength Index (RSI) to 39, the price action indicates a growing confidence in XRP’s medium-term prospects.

Looking ahead, price predictions for XRP in 2025 vary:
– Base case: $3.00 – $3.40 by July if the ETF is approved
– Bullish scenario: $5.00 breakout by August
– Bearish fallback: Retest of $2.00 or lower if resistance persists
Some extreme forecasts even suggest price targets ranging from $10 – $20 by 2026 to as high as $100 – $1,000 by 2030, although these remain speculative and should be taken with caution.

In conclusion, the recent surge in XRP price is more than just a temporary bounce; it signifies a renewed sense of optimism among investors. If the ETF approval goes through and the XRPL Summit delivers on its promises of innovation, XRP could be gearing up for a significant breakout in the coming months.