28-4-2025 – Bitcoin has surged with a remarkable ascent, climbing over 7% to breach the $95,100 mark by early Sunday. This upswing aligns with U.S. President Donald Trump’s announcement of plans to ease tariffs on Chinese imports, a move that has evidently bolstered market confidence. The influx of $3.06 billion into U.S. spot Bitcoin exchange-traded funds (ETFs) over the past week has further fuelled this rally, underscoring robust investor enthusiasm.
Meanwhile, the altcoin market has not been left behind. XRP has advanced by 4%, while Solana and Cardano have posted gains of 1% and 2%, respectively, within the last 24 hours. XRP, in particular, is capturing attention following the U.S. Securities and Exchange Commission’s (SEC) green light for ProShares to introduce the first XRP futures ETF, slated for launch on April 30. This milestone follows Ripple’s significant legal triumph over the SEC in March, which dismantled key regulatory barriers for XRP. ProShares is now poised to roll out three XRP-linked products this week, capitalising on the newfound clarity in the regulatory landscape.
However, amidst the optimism, cautionary voices emerge. Renowned analyst Egrag Crypto, in a recent post on X, has projected that XRP’s price may dip to $1.25 in the near term unless it decisively surpasses the $2.33–$2.45 range, which he views as a critical threshold for a bullish shift. Emphasising the significance of the 0.702 Fibonacci level, Egrag draws parallels to historical breakouts and urges investors to resist impulsive buying or selling, advocating instead for strategic accumulation during price corrections. “While I remain optimistic about XRP reaching double-digit valuations in the coming months, we must first navigate the current bearish undercurrents,” he remarked.
Echoing this sentiment, analyst Dark Defender highlights the $2.222 level as a pivotal marker in XRP’s trajectory, noting that the cryptocurrency is approaching the conclusion of its Monthly Wave 4, a phase in Elliott Wave analysis.