XRP price rises as ETF buzz mounts, can it reclaim $3?
The XRP price is recovering faster than other major altcoins, climbing to $2.50 with a 4% daily increase, driven by optimism around potential XRP exchange-traded funds (ETFs). Over ten active or pre-launch XRP ETF proposals on the DTCC platform, including Nasdaq's certification of the first U.S. spot XRP ETF from Canary Capital, fuel investor confidence. XRP is trading within a consolidation range of $2.19 (support) and $2.70 (resistance). While a breakout above $2.70 is less likely in the short term, ongoing ETF developments and institutional interest could build momentum for future gains.
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XRP's Rapid Recovery Amid ETF Anticipation
XRP price is recovering faster than major large-cap altcoins, reaching $2.50 with a 4% gain in the last 24 hours, as optimism grows over its potential exchange-traded fund (ETF) launch. Over the past seven days, the token has risen 6%, bouncing back from its dip below $2.2. The rebound coincides with a modest market recovery and places XRP among the top gainers of the day. Growing expectations around imminent ETF launches tracking the token have been a driving factor behind the rally.
Investor Confidence Boosted by Active ETF Proposals
More than ten XRP ETF proposals are currently listed as active or pre-launch on the Depository Trust and Clearing Corporation’s (DTCC) platform, further fueling investor confidence. Among these, Nasdaq recently certified the first U.S. spot XRP ETF from Canary Capital, with its launch slated for the U.S. market open on Thursday. This follows the earlier debut of REX Osprey’s XRP ETF in September, positioning XRP alongside Bitcoin (BTC) and Ethereum (ETH), which already have multiple ETFs.
Market Sentiment and Price Trajectory
Institutional interest in XRP ETFs is building, accompanied by reduced market volatility after the swings in October. Market dynamics suggest that XRP is poised to retest previous support levels—which may now act as resistance—as it consolidates. The token currently trades within a range, with key levels established at $2.19 as support and $2.70 as resistance.
Price Consolidation and Potential Breakout
XRP is pinned down in a consolidation range near $2.70 since mid-October. A breakout above the resistance level with a daily candle close could trigger renewed buying interest and an upward price movement. However, the resistance at $2.70 has held firm for the past five weeks, making it the more likely scenario that XRP remains in this range. Consolidation often acts as a reset, helping to build momentum for significant moves in price.
Consolidation as a Springboard Toward Momentum
While remaining in its current range could limit immediate gains, it may also set the stage for a major move if ETF developments continue to drive positive sentiment. Consolidation provides an opportunity to stabilize and gather the momentum XRP needs to break out decisively in the future.