Grayscale GDLC Fund approved to transition to ETF! XRP price about to break through? Technical patterns indicate a 14% rise potential | Ripple market analysis

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**Key Points:*** **Grayscale GDLC Fund Approved by SEC to Convert to Spot ETF**, the fund includes **4.8% XRP holdings**, providing institutional investors with convenient **XRP ETF exposure**.* This move is interpreted by the market as a **positive signal that the SEC may no longer view XRP as a security**, which is beneficial for the **long-term development of Ripple.*** Gate market shows that XRP is currently priced at $2.244, with a 24-hour increase of 3.12%. The chart forms a bullish **Inverse Head and Shoulders (** pattern, indicating a possible **trend reversal**.* Technical analysis shows that after breaking through the key resistance level of $2.17, **the price of XRP is expected to rise by 14% to $2.48**.* If **buying momentum aligns** (especially benefiting from the **XRP ETF listing news**), the possibility of **XRP hitting the $3 target price** increases.* **Short-term resistance focuses on the 50-day moving average )\$2.23( and the 200-day moving average )\$2.36(**. Sustained breakthroughs are the key to **XRP's continuous rebound**.* **Whale Trends )XRP Whale Activity(** in Focus: After recently selling 560 million XRP over the past two weeks, **whether ETF news can attract whales back** will impact the upward trend.* **The final approval deadline for Bitwise-like ETFs is July 31**. It also plans to allocate 4.8% to XRP, which could become a **catalyst for XRP price this month**.Since the beginning of the year, the price of XRP has remained in a **narrow fluctuation range**, as the positive factors driving its rise have diminished. However, with **Grayscale )Grayscale(** receiving approval from the U.S. Securities and Exchange Commission )**SEC**( to transform its **digital large-cap fund )GDLC(** containing XRP into a **spot ETF )Spot ETF(**, traders holding XRP are optimistic that this may trigger a round of **bullish trend**.**Grayscale Launches ETF with XRP Exposure, Regulatory Attitude Appears Positive**According to CoinGape, digital asset management giant Grayscale has received SEC approval, allowing institutional investors to conveniently invest in various crypto assets including **Bitcoin, Ethereum, Solana, Cardano, and XRP** through its **GDLC fund**. The fund allocates 4.8% to XRP.Although the proportion is small, the SEC's nod on this matter is widely seen as a positive signal, **implying that the regulatory agency may no longer classify Ripple Token ) as a security**. This is undoubtedly good news for the **price prospects of XRP**. Analyst Nate Geraci pointed out that this is a "moment of fulfillment" for **XRP and its community**, which have been mired in legal disputes with the SEC since 2020. The launch of this **XRP-containing ETF** has resolved the investment barriers caused by the Ripple vs. SEC lawsuit, allowing investors to **easily gain exposure to XRP**.Bloomberg analyst James Seyffart also mentioned that the **final approval deadline for the similar ETF submitted by Bitwise** is **July 31**. Similar to Grayscale, the fund also plans to allocate **4.8% of XRP**, which could become a **potential catalyst for XRP's rise later this month**.**XRP price is poised for a breakout, is a $3 target achievable?**From a technical perspective, the XRP price has formed a classic **bullish reversal pattern - inverted head and shoulders**. This pattern typically indicates that **the momentum of the downtrend is weakening, and an upward reversal is imminent**.The pattern calculation shows that the height from the "head" lowest point to the key neckline resistance level of $2.17** indicates a potential upward target for XRP** at \$2.48, with an approximate increase of 14% (**. Successfully reaching this level, especially under the positive stimulus of the **XRP ETF listing**, could attract more buyers to enter the market, further **driving XRP to challenge the highly anticipated \$3 target**.**Challenges and Key Resistance Levels**However, there are obstacles on the path to rising. The primary resistance is the **50-day simple moving average )\$2.23(**, which the XRP price has failed to effectively break through for nearly two weeks. At the same time, the **200-day moving average )\$2.36(** is also a key **upper resistance**. If the XRP price continues to trade below this moving average, even a breakout above \$2.17 may struggle to **sustain strength**.![])https://img.gateio.im/social/moments-87a9b3933a-f5c800b35a-153d09-7649e1(**Whale movements are a key variable**It is worth noting that the **Grayscale ETF positive news** may attract the **XRP whales that previously sold off significantly )XRP Whales(** back to the market. Analysis shows that in the past two weeks, **XRP whales have cumulatively sold 560 million XRP**. If **whale buying returns**, it will become a key driving force to push **XRP price towards the \$3 target**.**Summary Outlook**In summary, after the **SEC approves Grayscale's multi-crypto asset ETF that includes XRP**, combined with the **inverted head and shoulders bullish pattern formed on the XRP daily chart**, **the XRP price may be at the starting point of a rally**. The preliminary technical target points to $2.48 ) with a potential increase of +14% (**, while the **improvement in institutional access** and potential **whale inflow provide dual support for the XRP price's subsequent challenge of the \$3 dollar mark** from both fundamental and technical perspectives. Investors need to closely monitor the breakthrough situation of the key resistance levels at $2.23 )50-day moving average ( and \$2.36 )200-day moving average**) as well as the final decision on the Bitwise ETF on July 31.