XRP News Today: "Institutions Show Confidence While Whales Stir Uncertainty: Will XRP Reach $2.60 or Falter?"
- XRP rebounded from $2 support, with analysts targeting $2.60 as a key resistance level within a descending channel. - Institutional adoption grew via new XRP ETFs and Standard Chartered's custodial role, though ETFs hold just 0.5% of XRP's market cap. - Whale selling pressure (200M XRP in 48 hours) and bearish technical indicators below $2.20–$2.52 challenge bullish momentum. - Regulatory uncertainty and unresolved Ripple litigation keep XRP's trajectory dependent on technical execution and macro develop
After rebounding from a crucial $2 support, XRP has caught the attention of traders and analysts who anticipate a possible surge toward $2.60, the midpoint of its ongoing downward channel. This recent recovery,
Institutional activity is also shaping the technical outlook. Bitwise and 21Shares have both introduced spot XRP ETFs, joining the expanding roster of firms giving investors access to the asset. These launches, along with Standard Chartered’s custodial services for 21Shares,
Despite positive drivers, large-scale investor activity has brought volatility.
Technical signals are sending mixed messages. XRP has managed to stay above its 100-period moving average and shows strength in its RSI, yet
Wider market conditions add further complexity. XRP’s value has dropped 16.95% over the last month,
Looking forward, XRP’s direction will depend on whether institutional buying can counteract volatility caused by large holders. If the price can sustain a move above $2.24, it could pave the way for advances to $2.58 and $2.69,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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