Ripple (XRP) $2.74 The 7 percent increase in the price in recent days was supported by the change in the attitude of SEC’s attitude towards ETF application process. XRP and Dogecoin made by Grayscale of the US regulatory institution 
$0.273827 The acceptance of Spot ETF applications created a positive atmosphere among investors. With this development, it is observed that expectations for XRP have increased in the market.
ETF Application Effect of SEC
The attitude of the US Securities and the Stock Exchange Commission on Grayscale’s applications is considered a possible change in the regulatory approach. In the past, harsh practices observed in regulatory approaches after the rejection of similar applications are now re -evaluated. Market analysts say that this development can prepare the ground for other digital assets to go through similar processes.
Derivative market data and technical indicators
In addition to the increase in the Spot market, the XRP’s open positions in the derivative market were also increased. The fact that the open position value increases by 8 percent since the beginning of the week reveals that investors strengthen their future positions. According to technical analyzes, parabolic SAR indicator and MACD formations indicate that the rise tendency may continue.
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According to the evaluation of market analysts, XRP’s psychological resistance level is being tested, while the level of support is closely monitored. Investors state that technical indicators can play a decisive role in the recovery process of the price.
Bloomberg Intelligence Analyst Eric Balchunas said: “This may be a positive sign for subcoins that have been released after similar operations in the past. There is a small increase in the possibility of approval. ”
Market participants evaluate that the rise trend supported by positive changes in the regulatory appearance and technical indicators can maintain its impact in the coming days. Investors closely follow market dynamics while being cautious in this process.
Developments can allow XRP to gain more stable acceleration in global markets. Market analysis indicates that extensive regulatory improvements can increase investor confidence.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
