XRP heads towards a breakout from a bullish trend, potentially rising amid XRP ETF speculations and Bitcoin’s stability above the support level. 

XRP’s price declined by 1.5% over the past 24 hours, settling at $0.47 at press time. This drop follows a decrease in Bitcoin’s value from yesterday, which is nearing a critical support level. A break below this crucial support could have negative implications for both XRP and the broader cryptocurrency market. 

XRP ETFs Speculations

Ripple’s CEO Brad Garlinghouse criticized SEC Chair Gary Gensler yesterday for his remarks on cryptocurrencies. Gensler speaking at Bloomberg Invest, suggested that many crypto executives from previous years are either imprisoned, facing imminent imprisonment, or awaiting extradition. 

Garlinghouse criticized the comments in a recent tweet on Twitter, suggesting that “Gensler’s actions could impact Biden’s re-election prospects. 

The XRP community is also discussing the potential approval of an ETF for the asset, spurred by Gensler’s comments in interviews with Bloomberg and the Financial Times, which hinted at the imminent approval and trading of an ETH ETF. 

XRP Price Movement

Despite the recent decline in XRP’s price, the native token of Ripple remains in the spotlight as leading analysts predict a potential surge. Prominent market experts anticipate a bullish reversal trend in XRP, potentially pushing the token towards the $2 mark. 

This optimism is particularly fueled by significant whale activity, hinting at a forthcoming price breakout. As XRP prepares for a potential rally, the crypto community is closely monitoring these unfolding dynamics. 

Moreover, Captain Faibik, a prominent crypto market analyst, suggested that XRP may have already reached its lowest point. Furthermore, he suggests that XRP is poised to experience a reversal trend, potentially pushing its prices to new highs. In addition, Captain Faibik has set a midterm price targe of $2 for XRP.