XRP News Today: XRP's ETF-driven surge mirrors the 2017 rally, targeting $2.60

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XRP News Today: XRP's ETF-driven surge mirrors the 2017 rally, targeting $2.60

Bitget-RWA2025/11/26 13:32

By:Bitget-RWA

- 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

the 1.0 Fibonacci retracement

XRP News Today: XRP's ETF-driven surge mirrors the 2017 rally, targeting $2.60 image 0

This upward move happened alongside

a record-setting $164 million in ETF inflows

on Nov. 24, bringing the total to $586.7 million, with Grayscale's GXRP and Canary Capital's XRPC at the forefront.

Momentum for ETFs grew as institutional interest increased, with Grayscale, Franklin Templeton, and Bitwise all receiving regulatory clearance for

XRP

offerings. Grayscale’s GXRP and Franklin Templeton’s

XRPZ

started trading on Nov. 24, and Bitwise’s XRP ETF also launched, giving investors regulated access through standard brokerage accounts

according to reports

. These launches marked the first occasion where two major altcoin ETFs made their debut on a U.S. exchange at the same time, reflecting growing institutional acceptance of XRP.

Derivatives volume surged

ahead of the ETF launches, with XRP derivatives trading up 51% to $12.74 billion, showing increased market excitement.

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,

with on-balance volume rising sharply

to signal robust accumulation by buyers. Crypto analyst Ali Martinez observed that

a higher low and steady volume

above $2.06 could confirm a broader recovery, with $2.60 acting as both a midpoint and a psychological resistance. Still, there are risks:

large holders sold nearly $480 million

worth of XRP in just 48 hours, putting downward pressure that could challenge the $1.90 support level.

The ETF-fueled rally also drew parallels to XRP’s 2017 bull market,

with analysts referencing similar Gaussian

channel breakouts and 42-day correction cycles. Institutional confidence was highlighted by Franklin Templeton’s

XRPZ ETF

, which quickly became the top traded ETF after its launch, and

21Shares' TOXR ETF

, which received SEC approval and is set to list on Cboe BZX. These milestones coincide with XRP’s increased regulatory clarity following the SEC settlement,

supporting a $3 trillion crypto market cap rebound

in late November.

Although bulls are targeting $2.60, caution remains. The RSI indicated divergence, and

liquidation risks persist near $1.81

, while a low MVRV ratio shows that long-term holders are still facing losses.

Analysts such as Gert Van Lagen

stressed the need to stay above $1.90 to keep the bullish outlook intact. Meanwhile, the arrival of ETFs—now totaling 11 across spot and futures—marks a fundamental change in XRP’s market structure, which could alter its volatility and attract more institutional participation.

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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