XRP (XRP-USD) just got a major shot of adrenaline. Bloomberg analysts now peg the odds of a U.S. spot XRP ETF approval at 85%—and traders are already bracing for liftoff. Despite a 5% dip tied to weak U.S. GDP data, bullish sentiment is ripping back into the market. From surging Polymarket bets to ambitious analyst targets pushing $19, the XRP crowd is cranking up the volume. And if charts hold and the SEC plays ball, a return to all-time highs may be more than just hopium—it might be the next leg up.
Bloomberg Hikes Odds as XRP ETF Bets Surge
Bloomberg’s ETF desk raised XRP spot ETF approval odds to 85%, up sharply from 65% just two months ago. The upgrade follows a key leadership shakeup at the U.S. Securities and Exchange Commission—one that traders believe could tip the scales in crypto’s favor.
There are now five ETF filings on the table, including bids from Grayscale, Bitwise, WisdomTree, Franklin Templeton, and 21Shares. And it’s not just analysts calling it. Over on Polymarket, odds of an XRP ETF approval by December 31 have jumped to 80%, up from 63% last week. That 17-point swing has reignited retail and institutional interest alike.
XRP Traders Call for Explosive Upside
While XRP is down 5% in the past 24 hours, analysts are eyeing much higher levels. Trader Dark Defender believes the altcoin is mid-way through an Elliott Wave structure that points to “XRP continuing its climb to the top.”
Another analyst, Allincrypto, makes no bones about it: “Where we are pulling back is textbook perfect,” he wrote, projecting a move to $19.27 after a falling wedge breakout.
That’s an ambitious call—but it’s not pulled from thin air. XRP’s chart is showing a classic falling wedge pattern—a bullish setup that often precedes sharp reversals. If the price breaks above the upper trendline at $2.40, the next target could be $3.74. That’s a 71% gain from current levels.
Key XRP Price Levels Could Trigger the Rally
For the move to materialize, XRP must hold support around $2.20, then break through resistance between $2.80 and $3.00. The RSI remains above 50, signaling that bulls still have some control—even if momentum is cooling short term.
If that wedge breakout happens and ETF approvals roll in, traders expect fireworks. However, before any breakout happens, XRP needs to defend key support at $2.20 and then clear the resistance zone between $2.80 and $3.00. The RSI still sits above the midpoint, showing momentum hasn’t fully faded. If bulls can reclaim $2.40, the technical setup points toward continuation—not collapse.
At the time of writing, XRP is sitting at $2.22.
