XRP spiked to $3.33 Wednesday on a wave of institutional buying before retreating to the mid-$3.20s, underscoring the market’s mixed sentiment despite recent legal wins and growing exchange-traded fund (ETF) speculation.
Institutional Buying Pushes XRP Higher
The surge came as trading volume more than doubled its daily average, fueled by large institutional orders. The rally lifted XRP above a key short-term resistance zone at $3.30, but sellers quickly stepped in, triggering a pullback to $3.26. Support remains strong around the $3.20–$3.26 range, a level that traders will watch closely for signs of a renewed push higher.
Legal Clarity, But Caution Persists
Ripple’s recent settlement with the SEC removed one of the biggest uncertainties hanging over XRP. However, the token has yet to stage a sustained breakout, reflecting investor caution over how future SEC guidelines might impact the crypto market. Traders appear to be waiting for a clearer catalyst before committing to long positions.
ETF Hype Could Be a Game-Changer
Analysts say a U.S.-listed spot XRP ETF could be that catalyst. Projections suggest that $5 billion in inflows during the first month of trading could send the token’s price toward $26. Some chartists go further, pointing to technical breakouts that could eventually target the $30–$34 range if momentum builds.
Key Bullish Targets
- $4.50 – $5.00: Near-term breakout zone if $3.33 resistance is cleared.
- $21 – $27: Potential upside from major institutional inflows.
- $30+: Long-term target from multi-year bullish patterns.
Risks of a 2018-Style Reversal
While the upside potential is significant, market veterans caution that parabolic rallies have historically led to sharp crashes. XRP’s 2017 boom was followed by a 95% drop, and a similar pattern could emerge if hype outpaces fundamentals.
The Bottom Line
XRP’s price action this week shows both the enthusiasm and hesitation in the market. With ETF speculation heating up, a clean break above $3.33 could open the door to higher levels. However, traders should prepare for volatility, especially as regulatory clarity and institutional participation continue to evolve.
Current Price: $3.26
Support: $3.20–$3.26
Resistance: $3.30–$3.33
FULL COVERAGE: XRP | Cryptocurrency Market
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