XRP Rises to $2.68 Amid ETF Delays and Volume Surge
XRP is experiencing a significant rebound, rising from $1.77 in early October to over $2.60, despite the SEC's extended review of XRP ETF filings.
- Recent surge saw XRP reach $2.68, breaking resistance at $2.63 with a 147% spike in trading volume.
- Optimism fueled by Ripple’s acquisitions, including Ripple Prime and GTreasury integration.
Technical Indicators Strengthen Bullish Outlook
- XRP has surpassed its 50-day and 200-day EMAs, indicating trend continuation.
- Inverse head-and-shoulders pattern suggests potential for higher highs.
- RSI near 70 indicates strong demand; analysts predict a breakout above $2.70 could target $2.90–$3.00.
- CME XRP futures notional volume exceeds $27 billion, supporting bullish momentum.
- $2.54–$2.58 support zone critical; a drop below could lead to corrections.
Institutional Flows Signal Confidence
- Despite ETF delays, institutional accumulation remains strong, with rapid XRP integration into U.S.-listed ETFs.
- REX-Osprey XRP ETF surpasses $100 million in assets, enhancing XRP's financial instrument status.
- With global crypto market cap near $3.8 trillion and potential easing of liquidity constraints, XRP could outperform peers.
- Sustained buying above $2.70 may indicate the start of a larger rally in institutional digital finance.