XRP Price Eyes Breakout As Crypto ETF Odds Rise
XRP price is gaining attention amid renewed optimism surrounding altcoin exchange-traded fund (ETF) approvals.
This comes after the United States Securities and Exchange Commission (SEC) authorized the inclusion of XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM) in the Nasdaq Crypto US Settlement Price Index.
The move is a catalyst for broader market activity and ETF filings. XRP price, already showing signs of buildup, may see further momentum as a result of regulatory clarity and rising institutional demand across the crypto sector.
The US SEC recently approved the reconstitution of the Nasdaq Crypto US Settlement Price Index (NCIUS).
This updated index now includes XRP, ADA, SOL, and XLM. The decision followed the earlier inclusion of only Bitcoin and Ethereum.
According to Nasdaq’s statement, the index reconstitution allows these altcoins to be used as benchmark assets for potential future investment products.
The update reflects enhanced liquidity and consistent pricing standards for these assets. Regulatory analysts note that these qualities were key in the approval of previous spot ETFs.
With this development, XRP and the other included altcoins meet an essential requirement for institutional-grade investment offerings.
Consequently, crypto prices rose modestly following the announcement. CoinMarketCap data shows XRP price posted a 1% gain shortly after the update.
ADA climbed 1.50%, SOL rose by 2%, and XLM saw a 1.96% increase. The gains signal renewed interest in these assets as crypto ETF potential grows.
Additionally, technical analysts tracking XRP price pointed to a possible continuation of its long-term fractal cycle. Egrag Crypto, posted a chart suggesting XRP price is entering the second phase of what he labels “Cycle 3.”
The chart outlines past XRP growth patterns in two sharp impulses. The first occurred from sub-$0.01 to nearly $3.50, while the second phase displayed slower but broader upward moves.
Egrag now forecasts a breakout in July 2025, citing repeating structures and Fibonacci extensions.
He places the potential top of this cycle between $27 and $39. The crypto price forecast implies a possible rise of over 2,500% from current prices.
While such projections are based on chart trends, the timing aligns with growing institutional interest and anticipated crypto ETF approvals.
On June 6, asset managers VanEck, 21Shares, and Canary Capital submitted a formal request to the SEC. In the letter, the firms asked the agency to reinstate the “first-to-file” rule.
This rule grants ETF approval based on the order of application, a practice the SEC previously followed in non-crypto filings.
The firms argue that recent SEC decisions, such as simultaneous approvals for Bitcoin and Ethereum ETFs, disrupted fair competition.
BlackRock, which filed later than many competitors, ended up capturing most of the market due to this approach.
VanEck and others maintain that the Commission’s approval process should return to a queue-based model.
VanEck, Canary, and 21Shares were also among the first to file applications for spot ETFs tied to Solana, XRP, Litecoin, and Sui.
In their view, switching back to the first-to-file process would help fairness among issuers and lead to stronger competition.
In addition, the letter mentioned that delays in crypto ETF decisions might delay access for major financial institutions to diversified crypto investments.
With Ethereum’s spot ETF being approved in July 2024, investors are now paying more attention to altcoins such as XRP, ADA, and SOL.
Those watching institutional investment patterns foresee that soon investors will go beyond BTC and ETH and purchase other selected digital assets.
Should these altcoin ETFs on spot markets be approved, it would help pensions, asset managers, and hedge funds get regulated investment exposure.
The use of these instruments might bring more funds into the market and make prices more stable.
XRP, already under scrutiny in the Ripple case, will likely enjoy greater adoption as a result of the NCIUS recommendation.
Disclaimer
The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.
Kelvin is an experienced crypto journalist with over 6 years of experience backed by an Actuarial Science and English Degree. He has over 10,000 works published under his profile in several major media sites in the crypto, Web 3, and Finance sectors.
