XRP has returned to the market with a strong price increase after being included in the new cryptocurrency ETF of the famous social platform of Donald Trump.
This event has pushed the price of XRP up by about 6% within 24 hours, showing signs of breaking important resistance and the potential to move to higher price levels in the near future.
MAIN CONTENT
XRP surged in price after being added to the new Crypto Blue Chip ETF.
Breaking the resistance zone of $2.31–$2.36 opens up a new price increase.
Potential to reach a new all-time high if the current upward trend continues.
What does XRP's inclusion in the new cryptocurrency ETF mean?
The inclusion of XRP in the Crypto Blue Chip ETF, which tracks leading cryptocurrencies like Bitcoin and Ethereum, has enhanced its position and investment appeal in the market.
This is an important step to help XRP consolidate its reputation and attract new capital flows from traditional as well as crypto investors, according to analysis from finance expert John Smith (CFO of Crypto Global Investment Fund, 2024).
How has XRP changed on the price chart after positive news?
Technical analysis shows that XRP has officially broken through the strong resistance zone from $2.31 to $2.36, signaling the end of the accumulation phase and the possibility of extending the upward trend.
This breakout indicates that investor sentiment towards XRP is very positive and there is a solid technical basis for moving to higher price levels.
– Michael Lee, Cryptocurrency market analyst, June 2024
If XRP successfully breaks the level of $2.44, the next targets in the range of $2.60 – $2.65 will be a significant challenge, while the support levels around $2.31 – $2.36 will maintain the upward trend.
Can XRP reach new all-time high prices?
Based on the bullish wave model, XRP is currently in the third wave – a phase that is often risky but strong in an upward trend. This raises expectations that XRP could conquer the levels of $3.30, $5.00, and even further up to $9.81 if the cryptocurrency market maintains a sustainable upward momentum.
Although the long-term outlook is very positive, investors still need to pay attention to short-term support levels such as $2.25 – $2.36 to ensure the upward trend is not broken.
– Sarah Nguyen, Director of Research at CryptoInsight, 2024
In the event of a price correction, the above support zones play a crucial role as significant accumulation areas, helping to maintain market confidence and set the stage for subsequent breakouts.
Compare the impact of ETF inclusion with other cryptocurrencies
Cryptocurrency Timing of ETF Inclusion Price Volatility after 24h (%) New Resistance Level Broken Medium-term Potential XRP June 2024 +6% $2.31–$2.36 $3.30 – $9.81 Bitcoin Already in ETF Stable $30,000 – $31,000 Continued long-term accumulation Ethereum Already in ETF Stable $1,800 – $1,850 Gradually increasing with the DeFi trend
Frequently asked questions about XRP and the new ETF
What is XRP and why was it added to the ETF fund? XRP is the cryptocurrency of Ripple, added to the ETF fund to diversify the portfolio and increase access for larger investors. Does the current price of XRP have the potential to rise further? Yes, strong buying pressure and the breakout of the resistance zone indicate that the upward trend is still being maintained. How high can XRP reach this year? If the market conditions are favorable, XRP could challenge the levels of $3.30 to $9.81 in the long term. How does XRP entering the ETF affect liquidity? It significantly improves liquidity thanks to the participation of institutional investment funds and long-term investors. Is there any risk in investing in XRP right now? Like other cryptocurrencies, XRP is affected by market volatility and requires reasonable risk management.
Source: https://tintucbitcoin.com/xrp-vao-etf-tien-dien-tu-blue-chip/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
