Cryptocurrencies Price Prediction: Ripple, THORChain & Crypto – European Wrap 30 April

Spot XRP ETFs face 85% approval odds after SEC leadership shift

Ripple (XRP) price hovers at $2.24 at the time of writing on Wednesday as bulls try to prevent the pullback from its April peak of $2.36 from extending further. A reversal could soon gain momentum with Bloomberg’s Exchange Traded Fund (ETF) analyst, Eric Balchunas, releasing his team’s latest approval odds for all the different spot ETFs, including XRP, after Paul Atkins officially took over as Chair of the Securities and Exchange Commission (SEC).

THORChain announces integration of XRP stagenet ahead of the mainnet network launch

THORChain (RUNE) announced on Tuesday that its stagenet development of its Ripple (XRP) integration is nearing the final step, with mainnet activation imminent. This integration enhances THORChain’s economic model by increasing swap activity and protocol fees. The news failed to significantly impact RUNE’s price, with RUNE trading around $1.35 at the time of writing on Wednesday, but it suggests a positive outlook for the token.

Crypto in consolidation mode

The crypto market remains in prolonged consolidation as it approaches the $3 trillion level, losing about 0.5% over the past day. For the past five days, the market has fluctuated in a very narrow range, with some tendency towards shallower declines. Still, it has been unable to exceed its 200-day moving average, which is now passing through $3.01 trillion. A global positive is needed for a breakout, but it would open the way to the $3.50 trillion area.