Dogecoin and XRP ETF Prospects Drive Bullish Market Sentiment
02.05.2025 12:26
Social data from Santiment highlights rising optimism for DOGE and XRP based ETFs, driven by increased online support and technical accumulation patterns. Positive chatter around Dogecoin has surged to a three‐month high following ETF filings by 21Shares and Bitwise, which, coupled with endorsements from the House of Doge and Dogecoin Foundation, is shifting its image from a mere meme coin to a serious investment option. Meanwhile, XRP is benefitting from bullish sentiment despite a decline in overall social discussions, as its perceived likelihood of spot ETF approval by the end of 2025 has climbed to 85% according to Polymarket. However, the SEC’s decision to delay rulings on the spot ETF proposals for both coins until June 17 introduces a short-term uncertainty, even as technical indicators point to strong accumulation. Overall, the market appears to be moving toward a more positive outlook for both tokens, fueled by renewed investor confidence and regulatory developments.
Dogecoin is expected to benefit from the surge in positive social chatter and institutional backing as seen by the ETF filings and foundation support. Technical accumulation patterns suggest a potential new growth phase; however, the delay in SEC ruling until June 17 may temper immediate price action while long-term prospects remain optimistic if regulatory approvals follow.
XRP is poised for positive momentum driven by growing confidence in a spot ETF approval, now perceived at an 85% likelihood by the end of 2025. Bullish technical indicators and whale accumulation further support this outlook, although the SEC's delayed ruling until June 17 might moderate immediate movements, suggesting stronger long-term benefits tied to regulatory outcomes.