XRP Surges 6% as Spot ETF Filings Boost Institutional Demand
Token climbs to $2.40, higher highs confirm bullish momentum
XRP rallied 6.2% to $2.40 on Tuesday as institutional flows accelerated across major exchanges. The token broke through $2.35 resistance on volume 169% above the daily average, hitting $2.43 before consolidating near key support levels.
Spot ETF Filings Drive Optimism
Canary Capital, Bitwise, Franklin Templeton, and 21Shares filed amended S-1 registration statements for spot XRP ETFs, using standardized language to streamline SEC review under 8(a) procedures. All five ETFs are now listed on the DTCC, signaling readiness for a potential U.S. launch this month.
Analysts view the coordinated filings as a fast-track to approval, echoing the momentum seen with Bitcoin and Ether ETFs earlier this year. The filings highlight continued institutional appetite for XRP, supported by strong network fundamentals.
Technical Overview
XRP’s advance from $2.26 to $2.40 formed three impulse waves across a $0.19 intraday range, with a brief pullback to $2.395 testing support without disrupting the uptrend.
- Higher highs and higher lows confirm sustained bullish control.
- RSI near 64 and MACD divergence indicate momentum strength.
- TD Sequential 4-hour signals point to continuation potential.
- Whale transfers totaling 500,000 XRP caused minor overhead pressure but did not disrupt accumulation zones.
Outlook
Key levels:
- Support: $2.39–$2.395
- Upside targets: $2.43–$2.50; extended range $2.54–$2.80 if ETF approvals trigger liquidity inflows.
ETF developments remain the primary catalyst. Sustained strength above $2.40 could accelerate XRP’s Q4 rally, while failure to hold $2.39 risks a short-term retracement.
