However, it is important to remember that the SEC's review of an application is just the first step. The approval process can be lengthy and uncertain. The SEC thoroughly examines each spot crypto ETF application, considering factors such as investor protection, market manipulation, and regulatory compliance. Previous attempts to secure approval for spot ETFs on other cryptocurrencies, such as Bitcoin, have faced significant hurdles.

It is also worth noting that just yesterday, the SEC accepted an application from Bitwise for review.

Against this backdrop, whales continue to buy XRP during every possible correction. Betting markets on Polymarket indicate a 78% probability that an XRP ETF will be approved in 2025. This trend reflects the confidence of large investors in XRP's long-term potential, despite the current market volatility and the ongoing legal battles surrounding Ripple. The aggressive accumulation of XRP by whales during market corrections highlights their strategic approach and possibly even insider knowledge about upcoming regulatory changes or technological advancements.

The high probability of XRP ETF approval in 2025 serves as an additional factor driving whale purchases. If approved, the ETF will grant broader institutional access to XRP, which could positively impact its price.

Expectations of ETF approval, coupled with Ripple's continued efforts to develop its ecosystem and strengthen partnerships, are shaping a favorable investment climate for XRP.

Technical Outlook for Bitcoin (BTC/USD)

Buyers are now targeting a return to the $97,400 level, which would pave the way for a move towards $98,800, with $100,200 just a step away. The most extended target is $101,200, a breakout above which would confirm a return to a medium-term bullish market.

If Bitcoin declines, support is expected at $96,200. A drop below this level could send BTC quickly down to $95,100, with $93,900 following closely behind. The most extended downward target is $92,700.

Technical Outlook for Ethereum (ETH/USD)

A confirmed breakout above $2,766 has opened the door to $2,824. The most extended upward target is the yearly high at $2,877, a breakout above which would confirm a return to a medium-term bullish market.

In case of a correction, buyers are expected to defend $2,704. A drop below this level could push ETH down to $2,649, with the most extended downward target at $2,587.