XRP rose 4% in the last 24 hours, reaching as high as $3.57 before closing near $3.51, following a confirmed technical breakout from a six-year symmetrical triangle. The rally comes alongside legislative progress in the U.S. and the launch of the first XRP futures ETF, marking a pivotal moment for institutional engagement in the XRP ecosystem.
Breakout Confirms Long-Term Pattern
The recent move marks the completion of a multi-year technical pattern that has held since 2019. Traders had been closely watching the $3.42–$3.50 range for signs of a breakout. The close above $3.50 signals bullish momentum, though late-session profit-taking capped further gains.
XRP traded between $3.42 and $3.57, closing near $3.51 with institutional selling emerging in the final hour.
The volume-backed breakout adds confidence to bullish projections, with technical analysts setting short-term targets at $6.00, and some long-term projections pointing to $15.00 if momentum continues.
Congress Advances XRP-Friendly Legislation
A major catalyst behind the price surge was the advancement of the GENIUS and CLARITY Acts in the U.S. Congress. These bills reduce regulatory uncertainty around XRP’s classification, offering legal clarity for investors and institutions.
The new legislation recognizes XRP as a non-security, boosting confidence among regulated players.
ProShares Launches XRP Futures ETF
In a further sign of mainstream adoption, ProShares has launched the first XRP futures ETF. This product opens the door for institutional investors to gain exposure to XRP in regulated markets, further validating its role in the digital asset landscape.
This ETF launch mirrors prior breakthroughs seen with Bitcoin and Ethereum futures products.
Support now established at $3.50, resistance at $3.60
What’s Next for XRP?
Traders are now watching for:
A strong daily close above $3.60 to confirm continuation
ETF inflows as a gauge of institutional demand
Reactions to upcoming U.S. crypto regulatory votes
XRP’s breakout above long-term resistance and new institutional support suggest a structural shift is underway. As legal clarity improves and capital flows increase, XRP may be entering a new phase of adoption and price discovery.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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