TL;DR
- XRP broke above $2.00 and remains on an upward trend, driven by a macroeconomic environment that favors risk assets and key technical support.
- The announcement of a possible Franklin Templeton ETF based on XRP strengthened institutional interest and added extra momentum to the token.
- Open interest in derivatives grew 20% in 24 hours and the RSI climbed to 58, signaling stronger buying pressure and confidence in the trend.
XRP regained market attention after breaking through the $2.00 barrier. The token maintains a bullish trend amid a macroeconomic context that encourages appetite for risk assets.
Its recovery coincided with an improvement in investor sentiment after Donald Trump softened his criticism of Federal Reserve Chairman Jerome Powell and reiterated his preference for a lower interest rate policy.
Trump’s change in tone eased doubts about possible shifts in the Fed’s direction. This benefited Bitcoin, Ethereum, and Solana, which posted gains during the last session. At the same time, XRP consolidated its recovery. Its price reached $2.21 per token after a 3% increase, supported by the 50-day and 100-day exponential moving averages. These levels acted as both support and a test zone for a potential breakout.
Another factor that raised expectations around the token’s performance was Franklin Templeton’s filing to launch an exchange-traded fund (ETF) based on XRP. This type of instrument increases institutional exposure to the asset, which boosts trading volume and market stability. Although regulatory approval is still pending, the news added fuel to the current bullish cycle.
The Market Trusts XRP’s Rally
Technical indicators confirmed the positive outlook. The Relative Strength Index (RSI) reached 58, showing a rise in buying pressure. If this indicator crosses above the 70 level, it would indicate overbought conditions, but for now it still has room to rise. Meanwhile, the derivatives market saw a 20% increase in open interest over the past 24 hours, reaching $3.89 billion. Short position liquidations far outpaced long ones, reflecting greater confidence among bullish traders.
Despite the favorable backdrop, XRP will need to overcome resistance zones near $3.00. A daily close above the moving averages and a break of the downward trendline would be key to securing a sustained advance. If momentum fades, the $2.00 support regains importance as the immediate reference point to contain possible pullbacks.
