- XRP rallies to $2.27 ahead of ProShares ETF launch eyed for April 30 debut.
- MACD bullish crossover, expanding Bollinger Bands hint at XRP upside momentum.
- Traders watch $2.40 and $2.60 breakout zones as ProShares XRP ETF fuels sentiment.
XRP climbed 4.70% over the last 24 hours, hitting $2.27 and briefly touching a daily high of $2.29 earlier today. This price increase comes as traders grow excited about upcoming investment products linked to XRP, especially XRP ETFs.
CoinMarketCap data shows that XRP is navigating a tight corridor between $2.20 and $2.30. The 20-day Exponential Moving Average (EMA) stands at $2.15, acting as an important support level. Should prices dip, this level may be retested, providing bulls a fresh launching pad.
XRP Price Analysis
Bollinger Bands (BB) are moderately expanded, hinting at an ongoing rise in volatility. Importantly, XRP’s price is currently trading near the upper band ($2.28), often signaling short-term overextension.
However, it’s also a common trait during strong bullish trends, suggesting momentum could carry higher if buying pressure sustains.
Further positive signs come from the MACD (Moving Average Convergence Divergence). The main MACD line recently crossed above its signal line and entered positive territory – a classic bullish signal. Although the histogram bars showing momentum are still small, they are growing, suggesting bullish strength is building carefully.
Bullish Case: XRP’s Breakout on ETF Catalysts
Beyond the charts, upcoming ETF news supports a positive outlook for XRP. ProShares could launch a futures-based XRP ETF with 2X leverage in the U.S. as soon as next week, targeting an April 30th debut.
While a futures ETF doesn’t require the same level of SEC approval as a spot ETF, the fact that the SEC isn’t blocking it suggests increasing regulatory comfort with XRP. This potential launch could significantly boost XRP’s visibility among both institutional and everyday traders.
Adding to the positive sentiment is the recent arrival of XRPH11 in Brazil, launched by global asset manager Hashdex. It’s considered the world’s first XRP ETF. This launch improves XRP’s standing and provides regulated investment access in Latin America’s largest market.
Related: Top Trader Reveals Fresh XRP Long Strategy: Entry, Targets, and Risk Levels
If these ETF developments continue positively, XRP could soon test resistance levels at $2.40 and $2.60. A sustained rally might even target the $3.00 mark.
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