Critical Support Zone at $2.30-$2.40 Under Close Watch
XRP is trading within a range closely monitored by professional traders. With its price oscillating around $2.40 and a modest 1% increase over the last 24 hours. The token is testing the resilience of its major support level. This zone between $2.30 and $2.40 represents a decisive technical level for the short-term price evolution.
Technical analysis reveals a mixed situation. On one hand, a bullish divergence has formed on the daily chart. This signal is generally interpreted as an indicator of stabilization or a slight recovery. On the other hand, the weekly chart structure shows a series of lower highs and lower lows. This is indeed characteristic of a persistent bearish trend.
Scenarios for the coming days appear to revolve around lateral movements. Most analysts anticipate consolidation between $2.30 and $2.55 before a more pronounced directional movement. A daily close below the $2.30 threshold could trigger a new wave of selling and push the price toward the $2.25 zone. Conversely, a clean break above $2.55 would signal a renewed bullish momentum.
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Twenty XRP ETF Applications: The Awaited Institutional Catalyst
The XRP ETF case is gaining significant momentum with 20 exchange-traded product applications now filed with US regulators. This figure represents double the number of applications registered for Ethereum, illustrating the growing interest from asset managers in Ripple’s token.
Among the major players involved are Grayscale, Bitwise, 21Shares, CoinShares, and Franklin Templeton. These leading financial institutions have submitted their applications for spot XRP ETFs, which are currently under regulatory review. More recently, an asset management firm managing $1.8 trillion in assets filed an application for an actively managed crypto ETF that includes XRP alongside Bitcoin, Ethereum, Solana, and Cardano. This fund would be listed on NYSE Arca.
The importance of these investment vehicles lies in their ability to democratize access to XRP for institutional and traditional investors. ETFs eliminate constraints related to token custody and offer regulated exposure through conventional stock markets. Bitcoin’s example is particularly revealing: its rise beyond $100,000 was largely fueled by inflows into spot ETFs approved in early 2024. If XRP benefits from a similar structure, steady institutional demand could gradually establish itself, even if the initial price reaction remains to be seen.
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