- XRP surges 10% as bullish momentum builds toward $3.00 resistance.
- XRP ETF launch boosts investor confidence and highlights real-world utility.
Ripple’s XRP price has shown strong recovery, rising above the key support level at $2.00. On Wednesday, XRP traded at $2.26, briefly reaching $2.31, marking a 10% increase. XRP’s value continues to increase because investors show positive market signals following a major price drop during the previous month. XRP requires breaking through the major psychological barrier at $3.00 before it can progress to higher levels.
XRP Price Stuck Between Key Moving Averages, Awaiting Breakout
In addition to its price increase, XRP has acquired broader utility recognition, together with its rising price. Sal Gilbertie from Teucrium views XRP as the most usable cryptocurrency because of its practical capabilities. Following the introduction of the first exchange-traded fund (ETF) linked to XRP, the executive made his statements. The increasing faith in XRP’s ability to facilitate international money transfers is demonstrated through this strategic market development.
According to Teucrium ETFs, XRP demonstrates positive development but has to overcome specific technological obstacles. XRP maintains a position between its two fundamental moving averages of 20-days and 50-day. The XRP price rests at $2.06 value through the 20-day SMA, although the 50-day SMA acts as resistance. XRP could rise to $2.47 if it manages to surpass the 50-day simple moving average that serves as resistance. However, if the rally is rejected, XRP may pull back to $2.00 or test the 200-day SMA near $1.80. XRP trading activity currently exists within a defined price range because its moving averages are approaching each other to create conditions for a substantial market shift.
After the XRP ETF launch, Gilbertie maintained his positive stance toward both XRP cryptocurrency and its creator, Ripple. Gilbertie discussed the recent acquisition of Hidden Road broker-dealer by Ripple during his analysis. The action represents a significant move that combines traditional financial practices with decentralized financial solutions according to him. This deal may help advance tokenization adoption through financial institutions.
In addition to these developments, recent statements from US President Trump have helped stabilize the market. Trump declared that he would not dismiss Jerome Powell who leads the US Federal Reserve. The market saw this statement of no intention to remove Powell as an indication of stable Federal Reserve policy, thus driving investor confidence upward.
XRP on Track to Clear Key Resistance and Reach $3
XRP’s market value increase follows a positive movement throughout the entire cryptocurrency market. The price of Bitcoin broke its March value record when it reached more than $94,000 in recent times. The positive market sentiment gains strength because major cryptocurrencies such as Ethereum and Solana, together with other competitors, are generating significant price increases.
Long-term investors remain dedicated to acquiring XRP based on data captured from the blockchain network. Market demand has risen because of which has increased trading volume. The XRP price showed a steady upward trend, which reached $2.30 after starting from $2.10 throughout the daily market session. The market’s direction upward persists because of beneficial macroeconomic trends.
In conclusion, XRP remains on course to clear crucial resistance points despite present technical obstacles in the short run because market acceptance and value recovery are strengthening its price potential. XRP’s price movement above $2.47 would give it outstanding potential to achieve the significant milestone of $3.00 in its historical value
