Technical analysis indicates XRP is exhibiting signs of an impending bullish phase, driven by a developing golden cross pattern and rising anticipation regarding a U.S.-based exchange-traded fund (ETF).
Chart signals point to a nearing crossover where XRP’s 23-day moving average ascends towards its 200-day moving average. This occurrence around the $2.37 price level suggests strong potential support and signifies increasing upward momentum.
Market optimism is simultaneously fueled by circulating rumors regarding the imminent launch of a specialized XRP ETF within the United States, with announcements potentially expected soon.
Market analysts suggest approval of such an ETF could significantly accelerate XRP’s institutional acceptance and establish a crucial reference point for wider cryptocurrency investment mechanisms.
The pivotal technical hurdles identified for XRP lie at $3.20 and $4.00. Breaching the $3.20 ceiling sustainably could propel the asset towards testing the higher $4.00 resistance zone.