XRP showed signs of resilience on Sunday, bouncing back from an intraday dip as investors responded to two major catalysts: the launch of the ProShares Ultra XRP ETF and the passage of long-anticipated U.S. crypto legislation. The token recovered from a low near $3.40 to close around $3.47, supported by a significant uptick in institutional buying.
After briefly rallying to new all-time highs above $3.60 earlier in the week, XRP experienced a sharp 4% decline during Sunday’s session. However, a surge in trading activity—driven largely by large-scale investors—signaled confidence in the asset’s longer-term trajectory. Volume at the bottom surged to over 140 million, more than double the daily average, suggesting strong demand at lower levels.
Key Developments:
- ETF Momentum: XRP continues to benefit from the debut of the ProShares Ultra XRP ETF on the NYSE—the first leveraged ETF linked to XRP.
- Legislative Breakthrough: U.S. lawmakers passed the GENIUS Act, CLARITY Act, and FIT21 framework, resolving key regulatory uncertainties surrounding the asset class, including XRP’s security status.
Price Snapshot:
- Daily Range: XRP traded between $3.403 and $3.557 on Sunday.
- Session Low: $3.416 at 22:00, marked by a high-volume accumulation zone.
- Session Close: $3.474, recovering 1.58% from intraday lows.
- Late Recovery: In the final hour, XRP rose 2.31%, supported by strong bullish momentum and over 5 million tokens traded.
Technical Levels:
- Resistance: $3.55–$3.56 remains a tough ceiling, repeatedly rejecting upward moves.
- Support: $3.40–$3.42 is emerging as a key demand zone, defended on strong volume.
- Indicators: RSI is neutral, while MACD leans slightly bearish, indicating a potential consolidation phase before the next breakout.
Market Sentiment & Outlook:
- Analysts view Sunday’s bounce as a signal that institutional buyers are stepping in aggressively, interpreting the ETF launch and legal clarity as strong bullish catalysts.
- The elevated volume at key support zones suggests long-term positioning, rather than speculative activity alone.
- Attention is now turning toward potential spot XRP ETF filings, with several asset managers rumored to be preparing submissions.
Trader Focus:
- A close above $3.56 could open the door to targets at $3.84 and $4.20.
- A breakdown below $3.40 may trigger a correction toward $3.20 or lower.
- Watch for ongoing rotation from smaller altcoins into XRP as institutions seek clearer regulatory footing.
With legal uncertainty fading and traditional finance gaining access to XRP, the stage is set for a broader re-rating of the asset. Whether XRP can break through its current resistance may determine the pace of its next leg higher.
