XRP Price Rises with ETF Expectations

The price of XRP has recently increased by 3.6 percent to reach $2.31 amid ETF expectations. This has led institutional investors to refocus on XRP. The price has gained strong momentum, breaking through the critical resistance level of $2.28. Additionally, the trading volume exceeded the 86 percent of the 24-hour average, which is one of the impressive reasons behind this rise.

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

With the rise in institutional interest, the XRP network has recorded its strongest growth in the last eight months, creating 21,595 new wallets in the past 48 hours. 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 corporate repositioning rather than a speculative move.

Technical indicators suggest that the breakout above the $2.28 level has strengthened the upward channel. The state of indicator values indicates that if XRP stays above $2.30, the upward trend may continue. According to analysts, a closing 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 open the door for new price discoveries in the last quarter of the year.