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The price of Ripple $XRP is poised for a breakout as the SEC update and ETF flows converge
Home News The price of Ripple XRP is poised for a breakout as the SEC update and ETF flows converge
The price of Ripple XRP is poised for a breakout as the SEC update and ETF flows converge
Whale accumulation, Fibonacci extensions, and the impending legal deadline create a pivotal moment for Ripple's token, aiming for $5.50 and beyond.
The recent on-chain momentum triggers the XRP-USD rally:
July has proven to be one of the most explosive periods in XRP's history, with the token skyrocketing from just under $2.90 to a peak of $3.84 in the last 12 months, with a leap of over 65% between July 6 and July 18. This surge shattered the psychological barrier of $3.00 and triggered a trading volume spike of $33 million in one minute, highlighting the ferocity of the movement. Even though XRP-USD returned to $2.95, the sustained support between $2.90 and $3.00 held firm, indicating that buyers are firmly in control at those levels. Net ETF inflows exceeded $300 million in leveraged XRP vehicles, while August began with a consolidation of price action above the Fibonacci retracement of 0.236 at $3.10, demonstrating that on-chain conviction is far from exhausted.
Regulatory countdown and ETF approval prospects
All eyes are on August 15, the date when the SEC must file its next brief in the Ripple case. Legal strategists speculate that any sign of withdrawal of the appeal or agreement could immediately reclassify XRP-USD as a non-security, eliminating an overvaluation that has restrained speculative appetite. Alongside the legal drama, the debut of the ProShares XRP futures ETF on July 18 and over a dozen spot-XRP ETF requests – ranging from Bitwise to Grayscale – have pushed prediction markets to discount an over 80% probability of spot ETF approval by the end of the year. The convergence between regulatory clarity and institutional product launches could provide the spark for XRP to revisit the resistance at $4.20 and ultimately challenge its all-time high of $3.84.
