XRP News Today: XRP's Surge Accelerates as Large Investors and ETF Anticipation Drive Optimism—Yet Potential Threats Remain
- XRP surged 12% in 24 hours, driven by $550M accumulation from whales and ETF approval speculation. - On-chain data shows 216M tokens ($556M) withdrawn from exchanges, signaling institutional confidence in future price growth. - Technical indicators like RSI breakout above 50.0 and $2.50 price stability support bullish momentum toward $2.64-$2.75 targets. - Ripple's SEC lawsuit resolution and Mastercard/Gemini partnerships boost institutional interest, though legal risks and Bitcoin volatility remain conc
XRP experienced a price jump of more than 12% within a single day, driven by major investors accumulating $550 million worth of the token and rising speculation about possible exchange-traded fund (ETF) approvals,
This surge came after a significant amount of
Interest from institutional investors is on the rise, spurred by greater regulatory certainty after Ripple’s partial victory in its SEC case and ongoing rumors about ETF launches. Multiple asset management firms have applied for spot XRP ETFs, and market trackers estimate a 95% likelihood of approval by mid-November. Such products could open regulated investment channels for large-scale investors,
Despite the positive sentiment, some caution remains. Although XRP’s technical setup looks promising, analysts caution that failing to break above $2.64 could lead to a pullback to the $2.36 support level, which would undermine the bullish scenario. Additionally,
Crypto analyst STEPHISCRYPTO stressed that the current investor stance is "not optimistic enough," arguing that the RSI breakout and large-scale accumulation by whales point to a stronger rally ahead. "Should this pattern persist, XRP’s recovery could extend well beyond its present range," the analyst stated
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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