XRP is holding steady around the $3.05 mark, with attention turning to the resistance target of $3.21. Despite a brief drop below the consolidation pattern, XRP's price still shows resilience, maintaining a bullish outlook.
CasiTrades Predicts Resistance Level $3.21
CasiTrades, a cryptocurrency analyst, has predicted that XRP is heading towards the critical resistance level at $3.21. Following a recent price drop, which briefly fell below the consolidation pattern, XRP has quickly recovered.
Strong market momentum and weakening selling pressure indicate that the next resistance level will be $3.21. The analyst also noted that a pullback could occur between the levels of $0.118–$0.236, with XRP's goal being to reclaim the support level of $3.21.
BitGuru Emphasizes Reversal Potential
However, BitGuru, another reputable analyst, believes XRP is preparing for a reversal. The price is currently hovering around $2.85 after reacting from a critical demand zone. The formation of an inverted head and shoulders pattern suggests that XRP may be poised for a price increase.
BitGuru notes that this pattern indicates a bullish reversal. The analyst is monitoring further confirmation signals as XRP stabilizes at this level, signaling potential strength in the coming days.
Official XRP ETF Fund Registered in Delaware
Furthermore, X Finance Bull has reported that the 21Shares XRP ETF fund is now officially registered in Delaware. According to analysts, this development could positively impact the value of XRP. The legal framework for the ETF has been completed, and the infrastructure is being built before broader market awareness.
With the ETF rollout, XRP could see participation from larger institutions, potentially driving the price higher. This move is expected to attract more investors as they seek to access XRP through the ETF. XRP maintains a price of $3.08, with a 24-hour trading volume exceeding $9.5 billion. The cryptocurrency has risen 7.12% over the past 24 hours, further reinforcing growth potential in the future.
