XRP Approaching Key Resistance Level as Crypto Market Recovers

According to data provided by the 100eyes Crypto Scanner, the XRP cryptocurrency is currently approaching "horizontal resistance" near the $2.6 level.

The third-largest cryptocurrency is changing hands at $2.57 on the Bitstamp exchange.

The Ripple-affiliated token is currently leading the broader cryptocurrency market recovery with a 6% price spike.

Other major altcoins, such as BNB and Ethereum (ETH), have also recorded significant gains.

As reported by U.Today, the cryptocurrency is benefiting from persistent ETF buzz.

Nete Garaci, one of the most prominent experts, recently predicted that XRP would be able to get its spot ETF in 2025 in the U.S.

However, Polymarket bettors are so far divided on this issue, with nearly half of them betting against such an outcome.

XRP's tremendous rally, which became one of the most definitive stories of the fourth quarter, has lost its momentum. However, the growing ETF buzz could re-ignite it if there are signs that such a product will actually be approved by the SEC as soon as this year.

If an XRP ETF does get approved, this will likely push the token further into the mainstream.

Banking giant JPMorgan, for instance, recently predicted that this product could attract up to $8 billion worth of inflows based on the performance of Bitcoin ETF last year.

It remains to be seen whether XRP will be able to eventually surpass its longstanding all-time high of $3.4 that was achieved seven years ago.