What’s in Store for XRP Price Amid Positive ETF News?

XRP ETF Approval Could Boost Price

XRP could see its value surge in the coming weeks as review deadlines for several exchange-traded funds (ETFs) approach. The deadline for the Grayscale XRP ETF is set for October 18, while the Canary ETF deadline falls on October 24.

The SEC has repeatedly delayed these ETF applications, suggesting they might finally approve them in October. As with the existing Bitcoin and Ethereum ETFs, the regulator will likely approve all of them simultaneously to avoid giving any particular project an advantage.

A Polymarket survey with $150,000 in assets indicates that the chances of approval have jumped to 87%, up from just 64% in August. The majority of participants therefore expect approval by year-end.

XRP ETF approval could stimulate its price due to strong demand for products linked to this cryptocurrency. The recently launched CME futures contracts have already reached more than $1 billion in open interest, becoming the fastest contract to reach this milestone. Similarly, XRP ETFs already available in certain markets have attracted millions of dollars in assets.

A Bullish Trend Emerges

Although Ripple is currently declining, falling from $3.6654 in July to $2.80 today, this correction forms part of a descending wedge pattern, which typically signals a strong recovery.

Ripple has also stabilized at a bullish pivot level of the Murrey Math lines, an area conducive to trend reversals. It has also reached the 100-day moving average, another positive signal.

Overall, the technical analysis looks favorable for the token, with a price target of $4.2 initially, and potentially $5 beyond that. An ETF approval could therefore significantly boost XRP’s price in the coming months.

How to Buy XRP on Bitget?

Here’s a quick guide to buying XRP on Bitget with GetAgent to take advantage of these bullish prospects in the medium term.

XRP Purchase Guide on Bitget:

1. Free registration: Create your account on the Bitget website and complete KYC verification in just a few minutes
2. Free SEPA deposit: Fund your account in euros with no fees via SEPA transfer
3. Access XRP/USDT trading: Navigate to the XRP/USDT pair with reduced fees of 0.1%
4. Purchase order: Place a market order for immediate purchase or a limit order to optimize the price

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