XRP Price Drops 4% to $3.14 Amid ETF Approval Uncertainty
The price of XRP has declined by 4% to $3.14 after a rejection at $3.5 and the news that BlackRock will not pursue an XRP ETF, impacting market sentiment. Investors are questioning whether to buy the dip.
Price Analysis
- XRP is currently trading at $3.15 with a nearly 10% weekly correction.
- Analyst CrediBULL Crypto views the current level as an “ideal” entry point for new positions, suggesting possible upward movement if support holds.
- Another analyst, Ali Martinez, indicates that reclaiming $3.27 could lead to a rise to $3.60, and mentions a bullish long-term target of $12.60 based on recent whale activity.
XRP ETF Approval Odds
- BlackRock's denial of plans for an XRP ETF follows speculation after Ripple's lawsuit victory.
- Current odds for spot XRP ETF approval stand at 81%, fluctuating between 75% and 90% recently.
- Canary Capital CEO Steven McClurg predicts XRP ETFs may outperform Ethereum’s due to yield structure and community strength.
Bitcoin Hyper Presale Update
The Bitcoin Hyper presale has raised $8.5 million and aims to enhance Bitcoin's scalability through smart contracts. Key details include:
- Token: HYPER
- Current Price: $0.012625
- Total Supply: 21 billion
- Staking Features: Yes
- Presale Status: Live