XRP news: Price nears $3 as ETF optimism drives bullish momentum
XRP trades near $2.95 as breakout momentum continues and ETF debut looms
XRP is trading near $2.95 after a swift rally from $2.20, supported by a breakout above a prolonged descending wedge and horizontal resistance zone near $2.60. The bullish structure remains intact as long as price holds above $2.80, with the psychological $3 level now acting as a key inflection point.
Highlights
- XRP holds near $2.95 ahead of ETF launch, trading 14% below its 2018 all-time high
- Open interest and options volume rise despite spot volume drop, signaling positional conviction
- RLUSD stablecoin crosses $500M market cap, expanding XRP’s on-chain ecosystem
This comes ahead of ProShares’ XRP futures ETF launch on July 18, which has already led to increased trading around the $2.85–$2.93 band.
XRP price dynamics (Source: TradingView)
The broader market is watching closely as XRP now trades just 14% below its all-time high, last tested earlier this year. The bullish move is also underpinned by a strong EMA structure, with price holding above all major daily moving averages. The Bollinger Bands are expanding, and price remains near the upper band, signaling that elevated volatility may lead to further upside. Immediate resistance lies at $3 and $3.20, while the support zone is layered between $2.80 and $2.60.
Derivatives data and ecosystem growth support outlook
While derivatives volume dropped 37.62%, open interest rose 4.70% and options OI jumped 31%, suggesting that traders are shifting from high-frequency scalping to longer-horizon bets. On Binance, the top trader long/short ratio stands above 2.80, signaling strong bullish conviction among major players. The 24-hour long/short ratio sits slightly below 1 at 0.94, reflecting some short-term hedging post-breakout, but broader positioning continues to favor the bulls.
XRP’s ecosystem also received a boost this week as RLUSD, Ripple’s enterprise-focused stablecoin, surpassed $500 million in market cap. This development adds to investor confidence in the network’s long-term prospects and utility beyond price action.
Outlook and what to watch next
If price convincingly reclaims $3, it could open the door toward $3.35–$3.50 and a fresh retest of the all-time high. However, any breakdown below $2.60 would threaten the bullish structure and invite profit-taking. ETF flows in the coming sessions will likely offer key insights into institutional demand and whether momentum can be sustained.
In prior coverage, we noted the importance of reclaiming the $2.60 zone to confirm trend continuation. That breakout has since occurred, validating the bullish bias and setting the stage for a potential surge toward $3.50 as the ETF launch approaches.
