XRP extended its breakout sequence on Tuesday, rising 6.2% to $2.40 as institutional flows accelerated on major exchanges. The token decisively broke above the $2.35 resistance level with above-average volume of 169%, marking its strongest single-session gain in over a week and setting new cycle highs near $2.43 before consolidating.
News background
- Canary Capital, Bitwise, Franklin Templeton and 21Shares filed amended S-1 registration statements for XRP spot exchange-traded funds, introducing standardized listing language designed to expedite SEC review under existing 8(a) procedures.
- All five XRP spot ETFs have been listed on DTCC ahead of a possible US launch this month.
- Analysts see the coordinated filings as a possible fast track to automatic approval, echoing the regulatory push seen during the Bitcoin and Ether ETF approval cycles earlier this year.
- The filings reinforce institutional appetite for exposure to XRP amid strengthening network fundamentals.
Price Action Summary
- XRP advanced from $2.26 to $2.40 through three distinct impulse waves, generating an intraday range of $0.19 and confirming a clear ascending structure.
- The breakout was triggered at midnight UTC when volume spiked to 119.6 million tokens (169% above the daily average), pushing the price through resistance at $2.35 and reaching new short-term highs around $2.43.
- A brief pullback to $2,395 tested support in the New York session, where buyers absorbed profit-taking pressure without disrupting the broader uptrend.
- Subsequent recovery attempts held above the 50 1-hour EMA, validating strong structural support on multiple time frames.
Technical analysis
- The pattern of higher highs and higher lows confirms sustained bullish control. Momentum indicators remain constructive, with the RSI holding near 64 and the MACD maintaining a positive divergence.
- The TD Sequential models on the 4-hour chart signaled a possible continuation setup after the pullback, aligning with the short-term accumulation behavior identified in whale-level wallet flows.
- Whale transfers totaling 500,000 XRP over 48 hours introduced lower air pressure but did not alter accumulation zones. The consolidation between $2.39 and $2.41 represents controlled profit-taking rather than a distribution.
What traders should know
- Market attention is now focused on XRP’s ability to hold the $2.39 to $2.395 support band, which has acted as a pivot for every breakout extension since early November.
- Sustained closes above $2.40 would keep the path open towards $2.43 and the extension target of $2.50, while failure to defend $2.39 risks a near-term pullback towards $2.34-2.31.
- ETF holders remain the main driver of short-term volatility. If one or more filings achieve automatic approval without objection from the SEC, analysts expect a surge in liquidity that could accelerate XRP’s advance toward the $2.54-$2.80 zone, confirming the continuation of the broader Q4 rally.
