XRP Price Outlook: Grayscale ETF Approval Fuels Bullish Momentum
The recent approval of Grayscale‘s Digital Large Cap Fund (GDLC) as a spot exchange-traded fund (ETF) by the SEC has created significant optimism for XRP. Market analysts now see potential for the cryptocurrency to reach $5, supported by strong technical indicators and growing institutional interest. Currently trading around $2.17, XRP faces key resistance levels at $2.48 and $3 that could determine its near-term trajectory.
Key Factors Driving XRP’s Potential
Several developments suggest XRP may be poised for substantial growth:
- Inclusion in the Grayscale ETF enhances institutional credibility
- Successful breakout from a symmetrical triangle pattern
- Established support at the $2.15 level after resistance breakthrough
Technical Perspective on XRP’s Movement
According to crypto analyst Mary, “XRP’s current chart pattern resembles setups that preceded previous rallies. The $2.40 price point appears achievable before testing the $3 resistance.” This analysis comes as XRP has already gained 27% in the past week, reaching $2.71 at the time of writing.
Long-Term Potential for XRP
Egrag Crypto suggests the current price range between $2 and $3.40 represents temporary volatility in XRP’s broader upward trend. The cryptocurrency’s fundamentals remain strong, particularly given its growing adoption for cross-border payment solutions and increasing recognition in financial markets.
