The U.S. Securities and Exchange Commission (SEC) has approved Bitwise’s request for a Ripple (XRP) Exchange-Traded Fund (ETF). This decision has raised optimism in the Ripple community, with analysts predicting the cryptocurrency’s price to reach $5. Despite the current downward trend in the market, experts remain optimistic about XRP’s growth. This is the third Ripple-related ETF request accepted by the SEC. Ripple’s acceptance is increasing, with several major companies harnessing its potential. Grayscale has applied to convert its Ripple Trust Fund into an ETF, and Nasdaq and Cboe have also submitted requests to list Ripple ETFs. MEMX has sent a similar request to the SEC, categorizing Ripple as a commodity-based trust. However, the final approval time for these funds by the SEC is still uncertain. At the time of writing, Ripple’s price has decreased by 3.12% in the past 24 hours, standing at around $2.53. Nevertheless, Ripple had a 5.02% growth in the past week, although facing an 18.40% monthly decline. Alongside these developments, Ripple’s daily trading volume has increased by 25.54% to reach $5.52 billion. Meanwhile, the well-known analyst, Dark Defender, has predicted Ripple’s next important Fibonacci level at $5.85. He believes that the cryptocurrency will break two key resistances and move towards this level. Additionally, another Fibonacci level is positioned at $18.23. Other analysts like Solberg Inust have endorsed Dark Defender’s analysis, forecasting XRP’s price to soon reach $4.4. You can track the live prices of all tokens and cryptocurrencies on the real-time digital currencies price page.
