XRP Price Analysis: ETF Catalyst Positions Ripple for Next Leg Higher Toward $2.80
XRP surged past resistance, driven by ETF filing momentum, setting up a potential breakout trade toward $2.80.Summary
XRP climbed 3.6% to $2.31, breaking key resistance at $2.28, significantly outperforming Bitcoin and Ethereum due to renewed institutional interest spurred by ETF developments. Canary Capital Group filed an amended prospectus for its proposed XRP ETF, moving it closer to potential SEC approval, mirroring a similar move by 21Shares. This institutional focus is further supported by new partnerships involving Ripple. Technically, the breakout above $2.28 confirmed bullish momentum, with RSI and MACD turning positive, and on-chain data showing the largest increase in new XRP wallets in eight months. Traders are watching for a sustained close above $2.35 to target $2.54–$2.80, while holding above $2.27 is crucial to avoid a retest of lower support levels.
(Source：CoinDesk)