Major development for the crypto industry: the U.S. Securities and Exchange Commission (SEC) has officially approved a new ETF from Grayscale, featuring leading digital assets like Bitcoin, Ethereum, Solana, Cardano, and XRP.
This multi-token fund is on track to become the world’s largest digital asset ETF—a significant milestone that may pave the way for dedicated spot ETFs for XRP, Solana, and Cardano. Spot ETFs reflect the real-time market value of a cryptocurrency, and their approval typically signals strong institutional interest and potential price growth.
Why This Is Important for XRP Price
Following the ETF announcement, XRP has shown renewed activity. Technically, the coin broke above the $2.19–$2.20 resistance zone and is currently attempting to establish this level as a new support.
If XRP can remain above this threshold, it could target the next resistance at $2.25, with a potential wick extending to the $2.32–$2.35 range, where significant selling pressure may emerge. Conversely, a breakdown below $2.19 could lead to a dip toward $2.10 or possibly $2.05. For now, XRP appears to be trading sideways, lacking clear directional momentum.
Market analyst Casi Trades observed, “After hitting the $2.30 resistance, the price failed to maintain support at $2.25 and is now retreating to retest the upper boundary of its consolidation zone between approximately $2.18 and $2.16. While this isn’t a confirmed breakdown yet, the outcome of this test is critical.”
Should the price hold above this area and reclaim the $2.25 level, it could trigger a rally aiming for $2.69 or beyond. Initial indicators on lower timeframes suggest weakening selling pressure, implying the dip may be short-lived. However, a drop below $2.16 could push the price down toward the next support near $1.90.
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