XRP price hits 4-day high as Asian session sees strong buying amid ETF speculation
XRP price has pierced off the top of its recent price range after surging over 2.5% during the Asian session on Monday, March 24, to hit a four-day high of $2.465. This move comes after days of consolidation between $2.465 and $2.360, with the lower boundary supported by the 0.618 Fibonacci golden ratio. As of the European session, XRP remains near this key level, with traders anticipating further upside momentum.
The breakout aligns with a significant increase in long positions on Binance Futures, where bullish sentiment has grown sharply. Data shows that 72.28% of all XRP futures positions on Binance are now long, reflecting expectations of further gains. This heightened investor confidence could be linked to speculation surrounding an XRP ETF approval in the U.S., which, if confirmed, could drive substantial price appreciation. Additionally, Ripple CEO Brad Garlinghouse recently announced that the company’s case against the SEC has concluded favorably, further bolstering optimism among investors.
XRP RSI remains bullish across timeframes, supporting further upside
XRP price dynamics (March 2025). Source: TradingView.
From a technical perspective, XRP is holding near $2.465, and key indicators suggest continued bullish momentum. The 100 EMA on the 1-hour chart aligns with the 50% Fibonacci retracement level at $2.400, reinforcing it as a near-term support. Meanwhile, the RSI remains in bullish territory on both the hourly and daily timeframes, indicating strong buying pressure.
Despite the positive outlook, traders should remain cautious of potential retracements. If XRP fails to hold above $2.465, a retest of $2.400 could occur, where the 100 EMA may provide support. However, as long as bullish sentiment remains intact and institutional interest continues to grow, XRP appears positioned for further gains in the near term.
XRP surged 7% after the SEC dropped its appeal against Ripple, boosting market confidence. The price then fell over 7% to $2.38, where it found support.
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