XRP Surges 6% as Spot ETF Filings Spur Institutional Interest
BTC climbs to $2.40, higher highs confirm bullish momentum
XRP extended its rally Tuesday, climbing 6.2% to $2.40 as institutional flows picked up across major exchanges. The token broke above $2.35 resistance on volume 169% above the daily average, reaching $2.43 before consolidating around key support.
Institutional ETF Developments
Canary Capital, Bitwise, Franklin Templeton, and 21Shares filed amended S-1 registration statements for spot XRP ETFs, introducing standardized language to streamline SEC review under 8(a) procedures. All five ETFs are now listed on the DTCC, signaling potential U.S. launches this month.
Analysts view the filings as a possible fast-track toward approval, similar to the momentum seen in Bitcoin and Ether ETF cycles. The filings highlight continued institutional appetite for XRP, backed by strong network fundamentals.
Technical Snapshot
XRP’s move from $2.26 to $2.40 came in three impulse waves, forming a $0.19 intraday range. A minor pullback to $2.395 tested support without disrupting the trend.
Key indicators:
- Higher highs and higher lows confirm sustained bullish control.
- RSI at 64 and MACD divergence suggest momentum remains strong.
- TD Sequential 4-hour signals point to potential continuation.
- Whale transfers totaling 500,000 XRP introduced minor overhead pressure but did not break accumulation zones.
Outlook
Traders are watching XRP’s $2.39–$2.395 support band:
- Sustained closes above $2.40 target $2.43–$2.50.
- Failure to hold $2.39 risks retracement to $2.34–$2.31.
ETF approvals remain the key near-term catalyst. Any greenlight could trigger a liquidity surge, potentially driving XRP toward $2.54–$2.80 and extending the Q4 rally.
