XRP Faces Challenges Despite ETF Optimism

XRP is facing a significant challenge after a 25% price drop, with heavy short positions indicating market skepticism about its recovery. Despite attempts to rebound, XRP's macro momentum remains bearish, with the Average Directional Index (ADX) suggesting ongoing pressure. Meanwhile, the potential approval of cryptocurrency exchange-traded funds (ETFs) is sparking optimism for altcoins like Litecoin, which has a 90% approval chance, making it the frontrunner among altcoins. Litecoin's regulatory status as a commodity rather than a security aids its ETF prospects, unlike XRP, which faces a 65% chance due to ongoing legal issues with the SEC. Analysts predict that the approval of ETFs could drive institutional adoption and price increases for altcoins, with Litecoin and Dogecoin leading the pack. However, the market remains cautious about XRP, as its recovery hinges on overcoming resistance levels and improving market sentiment.