XRP Price at Critical Point: Can ETF Hype Trigger a Run to $3.5?
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Key Insights
- XRP price has been consolidating near the $2.2 support over the past few days.
- The XRP ETF has continued to witness stable fund flows since its launch in the US.
- Analyst predicts a potential Ripple coin price surge to $3.6.
XRP price is holding crucial support now, and is consolidating near the $2.2 support over the past few days.
It’s worth noting that this muted performance has been continuing despite the soaring optimism over the Ripple ETF launch in the US.
The XRP ETF has continued to witness stable fund flows since its launch in the US market. This indicates that the institutions have remained bullish on Ripple coin, showcasing their confidence in its long-term potential.
Despite that, the recent consolidation has sparked discussions over the potential next move of the token.
Amid this, a renowned expert has shared a key XRP price analysis that hints at a potential surge to $3.4 or beyond.
Moreover, the expert noted that the crypto must break through a key resistance level ahead to continue its run towards the north.
So, here we explore the key levels to watch ahead for Ripple coin price and the recent developments in the XRP ETF space.
XRP Price Holds Key Support Amid Ripple ETF Hype
XRP price was at $2.20 at the time of writing, witnessing a rise of around 1.2% in the last 24 hours. The crypto touched a 24-hour high and low of $2.26 and $2.16, respectively.
Its trading volume from yesterday rose around 2% to $3.32 billion. Meanwhile, the relative strength index (RSI) of Ripple coin was at the neutral zone at 48, suggesting more room for upside.
However, the recent weekly surge of over 14% in the asset’s price has allowed whales to book profits.
This, in turn, might have stalled the much-anticipated rally in XRP price, despite the ETF optimism. It’s worth noting that the XRP ETF has consistently recorded inflows since its launch in the US market.
According to SoSoValue data, the instrument recorded a combined inflow of $666.61 million since launch. On November 28, the inflow into the Ripple ETF totaled $22.68 million.
Meanwhile, more institutions are racing to enter the space amid the soaring institutional bets, especially as the altcoin market heats up.
According to the latest reports, 21Shares is expected to launch another XRP ETF on Monday, which might further boost the market optimism.
What’s Next for Ripple Coin?
The optimism over the XRP ETF has also triggered bullish calls for the Ripple coin price ahead.
For context, if the institutions continue to accumulate the coin, it could create a supply shock, potentially boosting the XRP price.
Amid this, a top expert has shared a detailed analysis of the crypto, which has gained notable traction from market participants.
In a recent X post, analyst EGRAG CRYPTO said that the crypto is likely to hit $3.4 or even $3.6, sparking market optimism.
The expert said that if it holds the $2.2 mark, it could open the path for a journey to $2.6. However, he noted that “super bullish” momentum will kick off once XRP price soars past $3.4.
Beyond that, the next target would be at $3.65. However, traders should remain cautious, as the expert has warned that failure to hold the $2.2 support would trigger a XRP price crash to $2 or even $1.8.
The post XRP Price at Critical Point: Can ETF Hype Trigger a Run to $3.5? appeared first on The Coin Republic.
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XRP Price at Critical Point: Can ETF Hype Trigger a Run to $3.5?
Share:
Key Insights
- XRP price has been consolidating near the $2.2 support over the past few days.
- The XRP ETF has continued to witness stable fund flows since its launch in the US.
- Analyst predicts a potential Ripple coin price surge to $3.6.
XRP price is holding crucial support now, and is consolidating near the $2.2 support over the past few days.
It’s worth noting that this muted performance has been continuing despite the soaring optimism over the Ripple ETF launch in the US.
The XRP ETF has continued to witness stable fund flows since its launch in the US market. This indicates that the institutions have remained bullish on Ripple coin, showcasing their confidence in its long-term potential.
Despite that, the recent consolidation has sparked discussions over the potential next move of the token.
Amid this, a renowned expert has shared a key XRP price analysis that hints at a potential surge to $3.4 or beyond.
Moreover, the expert noted that the crypto must break through a key resistance level ahead to continue its run towards the north.
So, here we explore the key levels to watch ahead for Ripple coin price and the recent developments in the XRP ETF space.
XRP Price Holds Key Support Amid Ripple ETF Hype
XRP price was at $2.20 at the time of writing, witnessing a rise of around 1.2% in the last 24 hours. The crypto touched a 24-hour high and low of $2.26 and $2.16, respectively.
Its trading volume from yesterday rose around 2% to $3.32 billion. Meanwhile, the relative strength index (RSI) of Ripple coin was at the neutral zone at 48, suggesting more room for upside.
However, the recent weekly surge of over 14% in the asset’s price has allowed whales to book profits.
This, in turn, might have stalled the much-anticipated rally in XRP price, despite the ETF optimism. It’s worth noting that the XRP ETF has consistently recorded inflows since its launch in the US market.
According to SoSoValue data, the instrument recorded a combined inflow of $666.61 million since launch. On November 28, the inflow into the Ripple ETF totaled $22.68 million.
Meanwhile, more institutions are racing to enter the space amid the soaring institutional bets, especially as the altcoin market heats up.
According to the latest reports, 21Shares is expected to launch another XRP ETF on Monday, which might further boost the market optimism.
What’s Next for Ripple Coin?
The optimism over the XRP ETF has also triggered bullish calls for the Ripple coin price ahead.
For context, if the institutions continue to accumulate the coin, it could create a supply shock, potentially boosting the XRP price.
Amid this, a top expert has shared a detailed analysis of the crypto, which has gained notable traction from market participants.
In a recent X post, analyst EGRAG CRYPTO said that the crypto is likely to hit $3.4 or even $3.6, sparking market optimism.
The expert said that if it holds the $2.2 mark, it could open the path for a journey to $2.6. However, he noted that “super bullish” momentum will kick off once XRP price soars past $3.4.
Beyond that, the next target would be at $3.65. However, traders should remain cautious, as the expert has warned that failure to hold the $2.2 support would trigger a XRP price crash to $2 or even $1.8.
The post XRP Price at Critical Point: Can ETF Hype Trigger a Run to $3.5? appeared first on The Coin Republic.
Read More
How XRP Will Fair By November End Amid Aggressive Growth For Ripple