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The crypto market turned green this week, bringing a wave of relief to traders after days of uncertainty. The total market capitalization climbed past $3.72 trillion, up more than 2%, as top assets like Bitcoin and Ethereum regained ground.
XRP Price at an Important Level
XRP is now trading around $2.40, up nearly 1% in the last 24 hours. The token continues to defend a major support zone between $2.30 and $2.40, which is considered an important range.
If XRP can hold this level, it could signal a short-term recovery. However, a daily close below $2.30 might open the door to deeper losses, possibly toward the $2.25 range.
Market Trends and Indicators
XRP has formed a bullish divergence on the daily chart, a sign that prices might steady or move slightly higher in the short term.Despite this, the broader trend still leans bearish, as the token continues to form lower highs and lower lows on the weekly chart.
In the coming days, XRP traders are likely to see more sideways movement between $2.30 and $2.55. A breakout above $2.55 could signal fresh momentum, while a drop below $2.30 may trigger more selling.
Next Big Catalyst?
The next major catalyst for XRP may be close. Several asset managers including Grayscale, Bitwise, 21Shares, CoinShares, and Franklin Templeton have filed for XRP-based exchange-traded funds (ETFs). These filings are now under regulatory review, and approval could come soon.
A $1.8 trillion asset management firm has also applied for an actively managed crypto ETF that will include XRP along with Bitcoin, Ethereum, Solana, and Cardano. The fund will trade on NYSE Arca, giving investors regulated access to multiple digital assets.
Why ETFs Matter for XRP
There are now 20 XRP-linked exchange-traded product (ETP) filings, double the number for Ethereum. ETFs allow investors to gain exposure to XRP through the stock market without directly holding the token. This structure removes custody risks and makes XRP more accessible to traditional investors.
Bitcoin’s rise to over $100,000 was largely supported by ETF inflows. A similar structure could help XRP attract steady institutional demand over time, even if the price reaction is gradual at first.