XRP Price Edges Down As This Crypto Wallet ICO Closes On $9M #NewsETFs

The XRP price edged down a fraction of a percent in the last 24 hours to trade at $3.09 as of 2:26 a.m. EST on trading volume that dropped 34% to $4.2 billion.

This comes as Grayscale applies to the US Securities and Exchange Commission (SEC) to change its XRP Trust into an exchange-traded fund (ETF).

The firm’s justification for seeking to convert the trust into an ETF is that such a product would give investors greater access to the Ripple token without the cost and complexity of directly buying the asset.

🚨🚨🚨 HUGE 👉🏻 @NYSE 19b-4 filed to convert @Grayscale $XRP Trust to a Spot ETF.

The best is yet to come..

🥂🫡 pic.twitter.com/DVOlW5hf4X

— 𝟸𝟺𝙷𝚁𝚂𝙲𝚁𝚈𝙿𝚃𝙾 (@24hrscrypto1) January 30, 2025

With the filing, Grayscale now joins other asset management firms like CoinShares, Wisdom Tree, ProShares, REX Shares, and Bitwise, who have all submitted filings for XRP ETFs.

XRP Price Poised For A Breakout

The XRP price analysis on the 4-hour chart shows a consolidation pattern following a strong uptrend.

After experiencing a significant bullish move, the Ripple token price has formed a falling wedge pattern, characterized by lower highs and lower lows.  This is generally considered a bullish continuation pattern after a period of consolidation.

The current price is around $3.09, hovering close to the 50-day Simple Moving Average (SMA), which is at $3.0890. The 200-day (SMA) sits at $2.7250, which has acted as a dynamic support level in previous price action, according to data from GeckoTerminal.

If XRP breaks above the upper resistance of the wedge, a new bullish rally could follow. On the downside, a breakdown below support could lead to further declines.

Meanwhile, the Relative Strength Index (RSI) is hovering around the midpoint (50), showing no clear overbought or oversold conditions. This suggests a phase of consolidation before the next major price movement.

The breakout sentiment is cemented by the movement of the Moving Average Convergence Divergence (MACD), with the blue MACD crossing above the orange signal line, forming a bullish crossover.

Ripple Token Price Prediction: Breakout Or Breakdown?

Given the current consolidation within the descending triangle, the next major Ripple token price movement will likely be dictated by a breakout or breakdown.

If XRP breaks above the $3.20 resistance, the price could rally toward the next key resistance at $3.50 or higher. A sustained breakout confirmation could push the price of XRP toward $3.80 or even $4.00 in the coming days.

Conversely, a breakdown below $3.00 support could trigger a drop toward the $2.80 level, with the 200-day SMA at $2.72 serving as major support.

In the meantime, investors are flocking to the presale for Best Wallet (BEST)which according to ClayBro, a popular YouTuber with over 135K subscribers, is one of the best crypto wallets for 2025.

Best Wallet Presale Hurtles Toward $9 Million

Best Wallet is a non-custodial, no-KYC crypto wallet that offers impressive capabilities, including advanced security features and the Best DEX, which lets users buy, swap, and sell tokens across 60+ blockchains.

Among the many features of Best Wallet, one stands out: the “Upcoming Tokens” section. This feature helps users discover promising projects that are still in the early stages.

The Fastest Growing Wallet in Crypto!

In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀

1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.

This is why the Best… pic.twitter.com/AT4yos1CmG

— Best Wallet (@BestWalletHQ) December 30, 2024

The project’s success in identifying promising projects is clear. It already flagged Baby unchianid (peep) and Catslap (SLAP)meme coins that delivered 500% and 3,000% gains, respectively, for early investors.

Investors can also stake BEST tokens for a huge 200% annual return. Currently, BEST tokens are priced at $0.0238.

Those interested in joining investors who have pumped more than $8.7 million into the project should buy before a price hike in less than 15 hours.

Purchase BEST on its official website here.

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