XRP Price Prediction: Will the SEC Approval of WisdomTree's ETF Filing Send XRP/USD to $3?

The XRP price surged 5% in the last 24 hours to trade at $2.69 as of 3:40 a.m. EST on trading volume that soared 10% to $5.41 billion.

The XRP price surged 5% in the last 24 hours to trade at $2.69 as of 3:40 a.m. EST on Monday. This surge came as the U.S. Securities and Exchange Commission (SEC) acknowledged another XRP ETF filing on Feb. 19, this time from Wisdom Tree.

The SEC’s acknowledgment of Wisdom Tree’s application triggered a three-week comment period that will allow industry experts, investors, and even the general public to provide input on how the regulator should handle the application. The SEC will then take these comments into consideration when the time comes to make a decision about whether to approve, delay, or reject the application.

With the acknowledgment of WisdomTree’s application, the XRP price surged from $2.47 on Feb. 18 to $2.74 earlier today, only to correct slightly to the current price of $2.69. While the coin’s price has been increasing consistently in the last 24 hours, the project’s Bollinger Bands remained relatively stable, with minor widenings whenever the price managed to break a minor resistance and move further up.

While it was mostly pushing the upper band, the price’s recent correction took it down to the lower band, and at the time of writing, it sits exactly halfway between the two bands, showing signs of stability.

XRP/USDT 15-minute chart (Source: TradingView)

However, this sharp increase in sales has already been nullified as the RSI climbed back up to 50, stabilizing alongside the price. Moving forward, both the RSI and the XRP price could continue to grow, as there is enough room for a further increase. The only question is whether traders will feel optimistic enough to keep buying.

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