XRP Price Rises on ETF Expectations

The XRP price has recently increased by 3.6 percent, reaching up to $2.31, due to ETF expectations. This has shifted institutional investors' focus back to XRP. The price gained strong momentum by breaking through the $2.28 critical resistance. Additionally, the trading volume being over 86 percent of the 24-hour average is one of the impressive reasons behind this rise.

An important development contributing to the rise of XRP is the XRP ETF application by Canary Capital Group. The company submitted an updated prospectus for the fund, which will trade on Nasdaq under the ticker “XRPC,” to the U.S. Securities and Exchange Commission (SEC). This move followed a similar application by 21Shares. Bloomberg analyst Eric Balchunas states that these two applications could guide the SEC towards an important decision regarding XRP ETFs.

With the increase in institutional interest, the XRP network has created 21,595 new wallets in the last 48 hours, marking the strongest growth in the past eight months. During this period, approximately 900,000 XRP were moved to exchanges; however, it is observed that overall exchange reserves remain at historically low levels. Analysts view this high-volume rise as a repositioning by institutions rather than a speculative move.

Technical indicators suggest that the bullish channel has strengthened with the break above the $2.28 level. The status of the indicator values indicates that if XRP remains above $2.30, the upward trend may continue. According to analysts, a close above $2.35 could allow the price to climb to the $2.54–$2.80 range. Otherwise, the $2.13–$2.15 region may be retested.

Finally, if the ETF applications enter an automatic approval process, XRP has the potential to become the third-largest crypto asset with a spot ETF in the United States. This situation could accelerate institutional demand and pave the way for new price discoveries in the last quarter of the year.