The symmetrical triangle lower boundary line could provide support to initiate a bounce for XRP to tackle the $2.72 resistance. A firm extended decline below the triangle's support could signal a breakdown that could send XRP toward the $1.96 level if the support at $2.17 fails.

The acknowledgment follows last week's XRP ETF filings wins submitted by Grayscale and 21Shares. This was interpreted as a major step, given that the SEC has

Grayscale XRP ETF may soon be acknowledged by SEC, impacting crypto markets, amid ongoing legal battles over XRP's status.

The SEC has begun reviewing Grayscale's applications for XRP and Dogecoin ETFs, with decisions expected by October 2025, marking a shift in the agency's approach to cryptocurrency investment products.

The SEC acknowledged Grayscale's filing to convert its XRP Trust to an ETF. XRP ETFs could be approved considering the new SEC administration's regulatory reforms. XRP could rally to $3.15 if it validates a rounded bottom pattern and its technical indicators flip to bullish momentum.

XRP saw a slight bump early Thursday as token holders anticipate the SEC will acknowledge Grayscale's application for an $XRP ETF.

XRP was giving up some of its recent gains on Monday, but the cryptocurrency has still gotten a sizable boost from speculation that the Securities and Exchange Commission could approve an exchange-traded fund tracking its price.