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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-become-a-major-price-catalyst-for-bulls/" data-wpel-link="internal">Spot Bitcoin ETFs Become a Major Price Catalyst for Bulls</a> 
Spot <a href="https://en.coin-turk.com/bitcoin-whales-wake-up-after-6-years-6500-bitcoins-transferred/" data-wpel-link="internal">Bitcoin</a> ETFs have turned into the biggest price catalyst for bulls, and demand is increasing despite harsh macroeconomic headwinds. With individual investors starting to hold Bitcoin through a much safer channel, the reserves of ETF issuers are rapidly growing. Of course, as the BTC price rises, the outlook for altcoins is also positive. 
<h2 style="text-align: justify" id="ripple-xrp">Ripple (XRP)</h2> 
XRP Coin price saw a rapid increase in July of the previous year, but subsequent negative developments triggered profit-taking. On the other hand, the outcomes of the collective appeal process in the SEC case are not yet predictable. This uncertainty has caused investors to step back from long-term optimism, allowing sellers to dominate. 
In February 2024, the XRP Coin price broke down from the rising support trend line and the long-term horizontal support area that had been in place for 440 days. Since then, the price has started to rise, seemingly disappointing the bears for now. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-315793 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/XRP-Coin-Tahmin-1.png" alt="" width="1887" height="768"> 
Investors are hopeful as the weekly RSI has risen along with the price. The price is currently above $0.56, a level that has been significant for a while. 
<h2 style="text-align: justify" id="xrp-coin-price-prediction">XRP Coin Price Prediction</h2> 
Cryptocurrency analysts predict further price increases for February and beyond. An analyst known by the pseudonym CaptainFabik has warned investors about a potential XRP breakout. A similar forecast was made by Anup Dhungana, who expects a significant rally following the breakout from the formation. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-315794 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/XRP-Analist-Tahmini.webp" alt="" width="2531" height="1209"> 
Daily chart readings are in harmony with the weekly chart, indicating further rises. The price outlook and RSI increase support this. The price, trading in a decreasing parallel channel since November 2023, is preparing for a breakout. Such corrective structures often signal a reversal at some point. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-315795 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/XRP-Coin-Grafik-Tahmini.png" alt="" width="1890" height="771"> 
On January 23, 2024, XRP Coin bounced off the support trend line of the channel and yesterday surpassed the channel’s mid-line. The altcoin, having overcome the resistance areas at $0.55 and $0.56, may continue its rise supported by the increase in RSI. If the optimistic scenario plays out, we could see a 25% increase towards $0.70. 
However, despite the bullish predictions, if the XRP Coin price closes below $0.55, a drop to $0.47 could be expected. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-become-a-major-price-catalyst-for-bulls/" data-wpel-link="internal">Spot Bitcoin ETFs Become a Major Price Catalyst for Bulls</a></h5>

Spot Bitcoin ETFs Become a Major Price Catalyst for Bulls

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