XRP ETF: Ripple Bulls Eye $2.65 Target

What to Know:

• XRP demonstrates resilience, diverging from the broader crypto market’s weakness.
• Potential spot XRP ETFs are progressing, with multiple filings and listings.
• Technical analysis indicates sustained bullish momentum for XRP, supported by institutional accumulation.

Institutional interest is growing in XRP, as evidenced by its recent price action and developments surrounding potential spot ETFs. XRP has shown resilience, breaking away from the overall crypto market’s sluggish performance to post gains. This suggests increasing confidence in XRP’s prospects, driven by regulatory clarity and institutional adoption.

The filings of amended S-1 registration statements by several firms for spot XRP ETFs signal a significant step towards mainstream investment. The standardization of listing language aims to streamline the SEC review process. Furthermore, the listing of these potential ETFs on the DTCC ahead of a possible US launch this month adds to the positive momentum.

Trading volume has surged, confirming institutional participation in the XRP market. The increase in tokens changing hands during peak sessions underscores sustained professional flows at higher price levels. This controlled accumulation, rather than speculative spikes, indicates a strategic long-term approach by institutional investors.

Technically, XRP maintains an ascending structure on the 4-hour chart, supported by positive indicators like RSI and MACD. While there is near-term consolidation risk, the broader uptrend remains intact as long as the price holds above key support levels. Order book depth shows consistent buy-side layering, signaling institutional defense ahead of potential market catalysts.

XRP’s ability to sustain levels above $2.50-$2.52 is crucial for maintaining its bullish momentum. A daily close above $2.57 could confirm a breakout targeting higher price levels, while failure to defend support might trigger a corrective move. The progress of XRP ETFs and Ripple’s increasing institutional partnerships continue to bolster long-term confidence in XRP.

In conclusion, XRP is exhibiting strong fundamentals and technical indicators, supported by growing institutional interest and regulatory developments. While short-term risks remain, the overall outlook for XRP appears positive, driven by the potential for increased adoption and mainstream exposure through ETFs.

Related: XRP Price: $12M Max Pain for Bears

Source: Original article