XRP has experienced a significant rally, reaching a 7-week high of $2.48 before stabilizing around $2.40. This upward movement is fueled by:

  • BlackRock ETF Speculation: Rumors suggest BlackRock is considering filing for an XRP spot ETF, following its successful iShares Bitcoin Trust.

  • SEC Settlement Developments: The SEC has proposed lifting the injunction on Ripple's institutional XRP sales and reducing the penalty, potentially concluding the long-standing lawsuit.

Technical Indicators Signal Bullish Momentum

Analysts observe that XRP's price action indicates a bullish trend:

  • Resistance Levels: A decisive break above $2.50 could pave the way toward $2.75 and higher.

  • SuperTrend Indicator: A recent SuperTrend buy signal suggests sustained upward momentum.

Global Trade Talks Boost Market Sentiment

Ongoing global trade discussions, particularly between the U.S. and China, have contributed to a positive market outlook, benefiting assets like XRP.

Market Sentiment: Extreme Greed

The Ripple Fear & Greed Index indicates a sentiment of "Extreme Greed," reflecting heightened investor confidence in XRP's prospects.

Outlook: Path to $3?

With favorable technical indicators, potential ETF developments, and positive market sentiment, XRP may be poised to challenge the $3 mark soon.

#XRP #CryptoNews #Blockchain


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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.