XRP News Today: XRP's ETF-driven surge mirrors the 2017 rally, targeting $2.60
- XRP rebounded near $1.96 support due to ETF inflows and technical indicators, targeting $2.60 as a mid-channel rally. - Record $164M ETF inflows on Nov. 24, led by Grayscale and Canary Capital, marked first U.S. altcoin ETF dual launch. - Institutional demand surged with Grayscale, Franklin Templeton, and Bitwise securing XRP ETF approvals, boosting derivatives volume by 51%. - Risks persist: $480M whale selling pressured $1.90 support, while RSI divergence and weak MVRV ratios highlight liquidation risk
XRP bounced back from vital support around $1.96, driven by a surge in investments into newly introduced spot ETFs and technical signals pointing to a possible rally within the channel up to $2.60. The price movement reflected a typical scenario where buyers entered at multiple support zones, such as a broadening-wedge trendline, the 100-week EMA, and
Momentum for ETFs grew as institutional interest increased, with Grayscale, Franklin Templeton, and Bitwise all receiving regulatory clearance for
Technical experts pointed out that XRP’s strong rebound from a long-term channel sets $2.60 as the next significant target. The price climbed to $2.20,
The ETF-fueled rally also drew parallels to XRP’s 2017 bull market,
Although bulls are targeting $2.60, caution remains. The RSI indicated divergence, and
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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