XRP Stays Elevated After ETF-Fueled Rally, But $3.56 Proves Sticky

XRP rebounded sharply off the $3.40 zone on Sunday following a steep selloff, closing the 24-hour trading session with signs of institutional accumulation and stabilization around $3.47. The move comes amid continued excitement around the newly listed ProShares Ultra XRP ETF and fresh U.S. legislation that clears regulatory hurdles for crypto assets like XRP. After setting new all-time highs earlier this week above $3.60, XRP briefly dropped over 4% to test liquidity levels below $3.42. However, buyers stepped in aggressively at volume levels nearly triple the daily average, signaling conviction at the lows. The final hour of trading saw renewed upside momentum, with the asset recovering more than 2% from intraday lows. What to Know XRP dropped from $3.56 to $3.40 intraday , a 4.2% decline, before bouncing back to close at $3.47. Institutional volume surged to 140.78 million at the session bottom , over 2.5x the daily average, confirming large-scale accumulation. ProShares’ XRP ETF began trading on NYSE , while U.S. lawmakers passed key crypto legislation , providing long-awaited regulatory clarity. News Background On July 18, ProShares launched the first-ever XRP-linked ETF on a major U.S. exchange , opening institutional access to the asset via traditional brokerage platforms. At the same time, the U.S. House passed three major bills—the GENIUS Act, the CLARITY Act, and the FIT21 package—addressing digital asset taxation, securities classification, and market structure. These developments eliminated longstanding legal ambiguities surrounding XRP’s security status, bolstering its case for inclusion in future spot ETF filings and unlocking demand from institutions previously sidelined by regulatory uncertainty. Price Action Summary XRP traded between $3.403 and $3.557 during the 24-hour period from July 20 at 03:00 to July 21 at 02:00 , marking a 3.76% range . At 19:00 , XRP tagged a session high of $3.557 before a sharp retracement. At 22:00 , XRP bottomed at $3.416 amid a 140.78M volume spike , establishing a high-volume support zone. From that low, the token recovered 1.58% to settle at $3.474 by session close. In the final hour from 01:09 to 02:08 , XRP gained 2.31% , rising from $3.45 to $3.47, with nearly 5 million tokens exchanged around 01:49 as bulls re-entered. Technical Analysis $3.55–$3.56 remains a key resistance zone , with multiple failed attempts and high-volume rejections. $3.40–$3.42 now forms a solid support band , defended multiple times on large volume. Momentum indicators are mixed— RSI remains neutral , while MACD trends slightly bearish , suggesting possible short-term consolidation before the next breakout. What Traders Are Watching $3.55 breakout confirmation : A decisive close above this level could open room to $3.84 and then $4.20. Support test at $3.42–$3.40 : Breakdown here risks a slide toward $3.17–$3.20 range. Spot XRP ETF filings : With the futures ETF now live, market watchers expect spot filings from major asset managers in the coming months. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Source: CoinDesk