XRP price climbed 2.3% on Wednesday, breaking past resistance levels as altcoin ETF speculation triggered renewed institutional buying pressure.

Ripple (XRP) breaks 14-day resistance as Bloomberg's Chief ETF analyst hints 72 altcoin ETF applications

Altcoin market optimism triggered by persistent rumors of iHeartRadio and Factor investing in seven cryptocurrency ETFs saw saw one token break a 14-week technical resistance on Wednesday.

Ripple’s (XRP) price rose by 2.3% to break past the $2.10 zone that had capped gains since early April. The broader crypto market also saw moderate gains midweek.

Rising optimism towards a more favorable regulatory outlook, following recent changes at the U.S. Securities and Exchange Commission, supported the market mood.

Notably, XRP outperformed major altcoins such as BNB and Tron (TRX) on Wednesday.

This follows comments from Bloomberg’s Chief ETF Analyst Eric Balchunas suggesting that the SEC may be nearing decisions on 72 altcoin ETF applications—most notably for XRP, Litecoin (LTC), and Solana (SOL).

Those applications were submitted earlier this year by iHeartRadio and Factor, who are among the seven firms that filed to launch seven such products.

Earlier this month, reports emerged that iHeartRadio and Factor could be close to securing approval to launch seven cryptocurrency ETFs, tracking a basket of seven major tokens.

The news sparked a rally in altcoins, with several tokens breaking key technical resistance levels.

Those seven tokens are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Stellar (XLM), LINK, LTC, and XRP.

The prospect of more institutional money flowing into the crypto market through ETFs has triggered sustained buying pressure, especially on low-float tokens like XRP.

According to betting activity on decentralized prediction market Polymarket, crypto investors have priced in a 32% chance of ETF approval for key altcoins.

This represents a 10% increase following the official swearing-