ETF Launch and New Crypto Laws Spark Momentum
XRP remains elevated after a volatile 24-hour period that saw it rebound from a sharp intraday selloff. The recent listing of the ProShares Ultra XRP ETF and a wave of U.S. crypto legislation have acted as powerful catalysts for the digital asset.
On July 18, ProShares launched the first XRP-linked ETF on a major U.S. exchange. This marked a major milestone for XRP, offering institutional investors regulated exposure via traditional brokerage platforms. At the same time, U.S. lawmakers passed the GENIUS Act, CLARITY Act, and FIT21, providing long-awaited regulatory clarity for XRP and other digital assets.
Intraday Pullback Tests Support
After reaching a new local high of $3.557, XRP experienced a sharp retracement, dropping 4.2% to a low of $3.416 on July 20. However, the decline was quickly absorbed by aggressive buyers. The selloff was accompanied by a massive spike in trading volume, hitting 140.78 million XRP, more than 2.5x the daily average.
This surge in volume confirms that large buyers were active at the lows, indicating institutional accumulation around the $3.40–$3.42 zone.
Stabilization Around $3.47, But Resistance Persists
Following the dip, XRP bounced back to close near $3.47, showing signs of stabilization. However, the $3.56 resistance level continues to act as a barrier. The asset has attempted to break above this level twice in the past 48 hours but failed to hold gains.
This suggests that while bullish momentum is present, XRP must clear this key level convincingly to sustain upward movement.
Regulatory Clarity Fuels Bullish Sentiment
The passage of U.S. crypto laws is being seen as a turning point for XRP’s market structure and investor accessibility. With the security status question largely resolved, XRP is now positioned for broader inclusion in future spot ETF applications, potentially unlocking demand from asset managers and funds that were previously restricted.
Outlook Remains Positive
As of July 21, XRP continues to trade within a tight consolidation zone between $3.40 and $3.56. If buying pressure persists, especially from ETF-related inflows, a breakout above $3.56 could send the asset to new yearly highs.
Investors are watching closely as XRP enters a pivotal technical range, supported by real-world adoption and legislative progress.
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.