- XRP rose to $2.53 as institutional investors increased accumulation amid growing optimism over upcoming XRP ETF approvals.
- Analysts see a potential breakout to $2.65 if the token holds above key support at $2.50.
XRP rose to $2.53 earlier as institutional investors increased accumulation amid growing optimism over potential XRP ETF approvals. However, it is trading around $2.46 at press time, with analysts eyeing a possible rebound toward $2.65 if support near $2.50 holds.
Institutional Inflows Support the Market
Trading activity remains strong, with XRP’s volume having surged over 20% above its seven-day average during Tuesday’s session. More than 140 million tokens changed hands at the peak—86% higher than the 24-hour average—indicating sustained interest from institutional investors rather than short-term retail speculation.
Renewed optimism followed ETF progress from major financial institutions. Canary Capital, Bitwise, Franklin Templeton, and 21Shares have all filed amended S-1 forms for spot XRP ETFs, including standardized language meant to streamline U.S. SEC approval. The proposed funds have already been listed on the Depository Trust & Clearing Corporation (DTCC), hinting at a possible U.S. launch later this month.
Technical Picture: Support Holding Firm
On the technical front, XRP continues to maintain a constructive pattern on the 4-hour chart. The Relative Strength Index (RSI) remains near 58, showing room for potential upside, while the MACD histogram stays positive, suggesting underlying strength.
The price is now testing support between $2.45 and $2.50, an area that has consistently attracted institutional buying. Order book data across major exchanges show large buy-side layers within this range—evidence of controlled accumulation despite the brief dip below $2.50.
A daily close above $2.57 would reaffirm bullish continuation toward the $2.65–$2.70 zone, while failure to defend $2.45 could invite a short-term correction.
ETF Speculation Keeps Investors Engaged
Market analysts remain optimistic that ETF approvals and Ripple’s expanding partnerships will sustain XRP’s long-term strength. Although near-term consolidation is possible, the token’s stability above key support levels continues to demonstrate institutional confidence.
As speculation builds around ETF approval, XRP’s performance near $2.46 could mark a short pause before its next major upward move toward the anticipated $2.65 target.
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