XRP news: Rebound from 5-week low stalls despite ETF speculation
The XRP price edged higher to $2.250
XRP price snapped a four-day losing streak after finding support at $1.9077, rebounding 15% yesterday from a 5-week low to $2.216. The price edged higher to $2.250 in the Asian session but has since struggled to gain further momentum, trading sideways throughout the European session.
The recent rebound comes as institutional interest in XRP gains traction. Investment giant Franklin Templeton, managing $1.53 trillion in assets, has filed for an XRP exchange-traded fund (ETF), joining firms like Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree. The U.S. Securities and Exchange Commission (SEC) has acknowledged these filings, fueling speculation about eventual approval. While regulatory clarity remains uncertain, the potential for an XRP ETF has bolstered sentiment, helping support price recovery.
XAG/USD price dynamics (Jan 2025 - March 2025). Source: TradingView.
XRP struggles at $2.26 as RSI recovery signals potential upside
However, technical indicators show a mixed picture. On the 4-hour chart, XRP’s Relative Strength Index (RSI) has recovered from oversold levels to neutral, suggesting the possibility of further upside. But price action remains constrained by strong resistance at 2.26, reinforced by the 50-day Exponential Moving Average (EMA). A break above this level could signal further gains, with 2.30 and 2.35 as potential targets.
Supporting the RSI’s recovery is the broader sentiment shift toward crypto ETFs, with XRP gaining interest from institutional investors. If this trend continues, buying pressure could increase, helping XRP sustain its rebound.
On the contrary, a failure to break 2.26 could trigger renewed selling pressure. The daily RSI remains in bearish territory, indicating that the broader downtrend may not be over. If selling resumes, XRP could retest support at 2.216, with a deeper move potentially revisiting the 1.9077 level.
XRP gained 1.53% after breaking out of a descending wedge, signaling a bullish shift. However, it faced resistance at $2.50–$2.78, limiting further upside.
