XRP ETF could gain approval in 2025, Ripple holders await lawsuit ruling
Ripple validator conducted a poll that shows 65% respondents believe XRP ETF is likely in 2025.
XRP holders await a ruling in the SEC vs. Ripple lawsuit that has dragged since 2020.
XRP wiped out nearly 2% of its value on the day.
Ripple (XRP) holders are awaiting a ruling in the Securities and Exchange Commission’s (SEC) lawsuit against the payment remittance firm. A court ruling was awaited in May 2024, however there is no update, as of Monday, May 27.
XRP wiped out nearly 2% of its value on Binance, on Monday.
Technical analysis: XRP eyes nearly 7% gains
Ripple is currently in an uptrend, it started on April 18. The altcoin has consistently formed higher highs and higher lows, momentum indicators on the 1-day timeframe support the thesis of gains in XRP price.
XRP sustains above $0.5300 on Monday, nearly 1% gain on the day, and the green histogram bars on the Moving Average Convergence Divergence (MACD) indicator shows underlying positive momentum in Ripple’s uptrend.
The Relative Strength Index (RSI) reads 52.11, above the neutral level of 50, it signals bullishness in XRP’s trend.
The target is $0.5703, the April 22 and May 6 high for XRP price, 7.29% rally from the current level.
