XRP price remains flat today, April 30, with a slight 0.8% decline in 24 hours as traders remained hesitant following the SEC’s delay on a spot Ripple ETF filing.

XRP value today is experiencing sideways moves with no clear breakout despite a bullish outlook in the broader market as Bitcoin defends $95,000.

The price of XRP remained largely flat today, April 30, with a slight 0.8% decline in 24 hours. Traders appeared hesitant following the news that the SEC had delayed its decision on Franklin Templeton’s spot XRP ETF filing until June 17. However, Bloomberg analysts are optimistic that the approval will likely happen this year, with the final deadline being in October.

Amid these developments, should a proactive trader front-run Wall Street and buy the XRP token? Let’s delve into the analysis.

XRP Price Remains Flat

The price of XRP showed little movement today, remaining in the same range despite a bullish outlook in the broader market as Bitcoin valiantly defended the crucial $95,000 price point.

Its lack of meaningful gains can be attributed to the SEC's postponement of the decision on Franklin Templeton’s XRP ETF filing. The commission will now make its verdict on the pending applications by June 17.

Despite this development, Bloomberg has increased the odds of an XRP ETF approval in the US to 85%, and analyst James Seyffart from the firm predicts that the commission may give its nod on the pending applications during the last quarter of 2025.

Responding to Crypto in America host Eleanor Terrett, Seyffart added that the SEC will approve the filings before the final decision date.

Seyffart is likely basing his projection for approval on the SEC vs. Ripple lawsuit coming to an end. The new chair, Paul Atkins, took office last week, and he may be the key to this case finally being closed.

Should You Front-run Wall Street and Buy XRP Now?

If the lawsuit is closed by year-end, the commission will likely approve the iShares and VanEck applications, while Franklin’s will be the third in line.

Approval will mean gains for the XRP price, considering that institutions have shown interest in the Ripple ETFs that are already trading. The first US leverage Ripple ETF by Teucrium has amassed $55M in net assets one month into launch, while Brazil also debuted a spot ETF.

According to analyst Chad on X, approval will fuel a price rally by opening up a new revenue stream for most investors. Meanwhile, investment banking giant Standard Chartered has predicted that XRP might skyrocket to $5.50 by the year's end, attributing this rally to ETF products.

Therefore, a trader looking to front-run a potential rally should consider buying now despite the ETF approval delay. However, caution is still advised as the SEC might still reject the applications if the lawsuit fails to be officially closed by year-end.

XRP Price Analysis as Bulls Maintain Control

Taking a glance at the technical analysis, XRP bulls display resilience despite the rally encountering resistance and failing to break above the $2.30 mark. This suggests that an uptrend may be on the horizon.

The token is currently trading within the upper Bollinger band, implying a strong bullish momentum and the likelihood of the rally continuing in the short term.

The Relative Strength Index (RSI) is also showing sustained buying pressure as it continues to rise and has now reached 56. This indicates that the oversold conditions are quickly recovering, reducing the probability of an immediate parabolic decline.

If the bullish scenario holds and Ripple manages to maintain support above the middle Bollinger band, it faces the next resistance at $2.61. If this level is flipped, it could pave the way for a continuation of the trend towards the crucial $3.0 psychological price point.

In essence, the price of XRP is encountering bullish recovery as traders eagerly await the approval of spot ETF filings following Bloomberg's report which increased the odds of the product debuting in the US to 85%. Anticipating this approval, traders might proactively front-run this move and fuel further gains for Ripple in the coming days.