XRP Surges Back Above $2 as Futures Activity Soars and ETF Buzz Grows
XRP has staged a sharp comeback, bouncing back above the $2 level after plunging as low as $1.91 amid weekend volatility. The rebound reflects renewed buying interest and growing optimism over institutional participation and potential ETF developments.
The token climbed to a high of $2.04 over the past 24 hours, posting a trading range of around 6.5%. The swift rebound formed a classic V-shaped recovery on the charts, suggesting strong accumulation after the dip.
Derivatives Signal Institutional Interest
XRP futures trading volumes spiked to $3.96 billion, with Binance accounting for over 30% of the activity, followed by Bybit and OKX. Analysts interpret the surge in derivatives trading as a sign of deepening institutional engagement in the XRP market.
ETF speculation is also fueling optimism. In Canada, XRP ETFs from 3iQ and Purpose Investments have launched on the Toronto Stock Exchange. Meanwhile, in the U.S., the SEC is reviewing a filing for an XRP ETF from Franklin Templeton, opening a new public comment period that some see as signaling potential regulatory progress.
Market Snapshot
- 24-Hour Low: $1.912
- 24-Hour High: $2.040
- Current Trading Zone: XRP is hovering near $2.00, with resistance at $2.020 and support around $1.989.
- A V-shaped recovery began near $1.913, with price action consolidating between $2.00 and $2.02.
Technical Highlights
- XRP gained 6.5% intraday from its recent low
- A double-bottom pattern is forming near $1.91, hinting at support strength
- The $2.00 level has become a crucial psychological threshold
- Futures trading volume surged to nearly $4 billion, signaling strong trader interest
- Growing anticipation surrounds potential XRP ETFs amid shifting regulatory dynamics
