XRP Sheds 10% In Seven Days – So Why Are Traders Still Bullish?

Despite a 12% weekly decline, XRP (CRYPTO: XRP) continues to attract strong bullish sentiment. Rising ETF approval odds and growing on-chain activity bolster long-term confidence among traders.

Trader Notes: Cryptoinsightuk expects XRP to sweep liquidity near $1.87 before a potential bounce. A drop to $1.72 would be a “blessing entry” but may not materialize. He calls the overhead liquidity dense, suggesting that a breakout could result in a sharp, "glorious" rally.

Another trader, Altcoin Gordon, points to a developing wedge pattern and warns that most traders will notice XRP only after a breakout, when it’s too late. “By then, you’re already selling into their FOMO,” he says.

Peter Brandt sees signs of a potential Head & Shoulders top forming, but cautions that this pattern should not automatically be interpreted as bearish, especially by less-informed observers. The current structure holds unless XRP closes decisively below $1.80, which would trigger a re-evaluation.

Statistics: XRP’ optimism surged after Bloomberg ETF analysts James Seyffart and Eric Balchunas increased the odds of an XRP ETF approval in 2025 to 95%, citing increased SEC engagement in an X post on June 20. This helped spike Polymarket odds to 91%, up from 88% just a day earlier.

On-chain fundamentals also remain solid, with XRP Ledger processing 1.83 million payments on June 22, the highest single-day transaction count since March, reinforcing XRP's role as a high-utility asset.

3iQ's XRP ETF, recently launched in Canada, amassed C$32 million in AUM within just three trading days, making it the largest XRP-focused ETF in the country.

Community News: Lawyer Bill Morgan noted the legal battle between the SEC and Ripple could be resolved within weeks if both parties reach a preliminary ruling. The target deadline for conclusion is August 15, 2025.

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• XRP Eyes $2.65 Breakout As Two Canadian ETFs Officially Launch

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