Recent events in the XRP market have led to significant price fluctuations and discussions among traders and analysts.
XRP Price Dynamics: Surge and Decline
Since the beginning of July, XRP's price has declined by 13.65%. The crisis began on July 22 when a large number of long positions exceeding $100 million were liquidated, causing a sharp drop. The highest price of XRP reached $3.66 on July 18; however, support above $3.10 seems to have remained intact, indicating potential stabilization.
Key Technical Analysis Levels
Technical analysis shows resistance in the range of $3.24–$3.26, while support is held between $3.06 and $3.10. Currently, XRP trades at around $3.08.
Institutional Developments and ETF Prospects
Institutional interest in XRP continues to grow. For instance, Nature’s Miracle launched a $20 million corporate reserve strategy, while Brazilian fintech VERT introduced a $130 million solution. Regarding the ETF, the SEC has yet to approve a spot ETF for XRP; however, experts anticipate a decision may be reached by 2025.
Thus, despite recent price fluctuations, XRP continues to attract interest among institutional investors, and its long-term prospects remain positive.
