Ripple Skyrockets Beyond $3, New All-Time High in Sight ?
The price of XRP, Ripple’s cryptocurrency, has recently experienced a spectacular surge, brilliantly breaking through the symbolic $3 barrier. This rally comes at the exact moment when the market prepares to welcome the very first XRP futures ETF in the United States, news highly anticipated by investors.
Within 24 hours, XRP climbed 10.1%, rising from $2.91 to $3.25. During the same period, trading volume on cryptocurrency exchanges jumped by 46%, exceeding $10 billion. This explosion in volume is no coincidence: it coincided with breaking through the $3 mark, a major technical and psychological level.
This breakthrough has completely reversed market sentiment. The XRP price is now soaring at lightning speed toward levels not seen since 2018. According to several analysts, it’s highly likely that XRP will surpass its previous all-time high of $3.40, established in January 2018, within this week.
Imminent XRP ETF Launch Fuels Demand
This spectacular rise comes after a long period of XRP consolidation. The upcoming announcement of the launch of ProShares’ XRP futures ETF, scheduled for July 18, appears to have attracted the attention of institutional investors. Large orders from Treasury Desks and whales suggest a continued upward trend.
Technical analysts estimate that this recent progress could propel the price toward $3.40 and $3.60 levels, with longer-term potential reaching up to $5 – provided that announcements related to the ETF are accompanied by a sustained influx of buy orders.
Indeed, on the technical front, XRP’s price action appears solid, despite a Relative Strength Index (RSI) now in overbought territory. The 3-day RSI nevertheless shows room for further movement.
Consequently, XRP could establish a new high in the coming days before consolidating between $3.2 and $3.5 for a few days. Subsequently, the MRC indicates that XRP could exceed $4.8 in the coming weeks or months.
Traders remain confident, with the price showing higher lows and finding solid support around $2.98. The key now will be to see if XRP manages to close above $3.09, with sustained trading volume.
