XRP: Breakout Above $3.2 Gains Momentum Ahead Of ETF Launch

Summary XRP breaks $3.2 ahead of ProShares ETF launch, confirming bullish trend reversal. Inverted head-and-shoulders pattern completes, with neckline at $2.9 now acting as support. Next resistance lies at $3.6, with $4 in sight if ETF momentum sustains. By Jainam Mehta XRP ( XRP-USD ) surged to $3.21 on Thursday, breaking above the critical $3 psychological barrier and marking its highest level since early 2025. The move follows a powerful technical breakout from a multi-month consolidation range and comes just ahead of the anticipated launch of the ProShares XRP Futures ETF on July 18. ETF optimism and institutional demand drive price The sudden surge in volume and momentum has coincided with renewed interest from treasury desks and whales, many of whom re-entered near the $2.9–$3 breakout zone. The launch of the ProShares ETF is widely viewed as a key driver, signaling growing institutional interest in XRP as a tradeable and hedgeable asset. Strategists noted that a sustained close above $3 could mark the beginning of a fresh price discovery phase. XRP price dynamics (Source: TradingView) Technical structure also reinforces the bullish case. The breakout confirms a larger inverted head-and-shoulders pattern, with the neckline at $2.90 now flipped into support. All major exponential moving averages (20/50/100/200) are rising in bullish alignment, and momentum indicators show acceleration without bearish divergence, supporting the view that bulls remain in control. Upside targets and key levels to watch The next area of resistance lies between $3.5 and $3.6, representing the January 2025 high. If XRP continues upward with strong volume and a weekly close above $3.2, a run toward the psychological $4 zone is possible. On the downside, support is located at $2.9, with deeper support near $2.4–$2.6 if the rally stalls. The Relative Strength Index ((RSI)) has entered overbought territory, but analysts suggest that momentum remains intact and dips could serve as opportunities within a broader uptrend. In our July 16 coverage, we identified XRP’s bullish reversal structure forming through a W-shaped pattern and a developing inverted head-and-shoulders setup . With the breakout now confirmed and ETF momentum building, attention shifts to whether XRP can sustain its trajectory above $3.2 toward fresh 2025 highs. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post

Source: Seeking Alpha