XRP has achieved significant growth, breaking above $3.00 for the first time in over a year, with an increase in trading volume and rising institutional interest ahead of the ProShares ETF launch.
Technical Breakout of XRP
XRP reached $3.09 before settling around $3.05, marking an important technical breakout. Analysts predict potential continuation toward $3.40–$3.60 and higher in a bullish ETF scenario. Over the 24 hours from July 16 to 17, XRP gained 4.85%, driven by intense trading activity that exceeded 170 million XRP.
Impact of ProShares ETF Launch
The XRP breakout coincides with increasing institutional flows ahead of the ETF launch, which will be the first XRP-linked futures product for U.S. investors. The ETF will start trading on NYSE Arca after approval from the Commodity Futures Trading Commission. Experts assert that the $3.00 breakout was catalyzed by structured buying rather than speculative frenzy.
Future Prospects for XRP Amid Institutional Flows
As XRP maintains its position above $3.00, institutional interest in the asset has been rising, especially following legal clarity achieved in 2024. The upcoming ProShares ETF is expected to attract hedge funds and registered investment advisors, leading to significant XRP demand. Increased activity from wallets holding more than 10 million XRP also signals potential pre-ETF buying from major players.
The breakout of XRP above $3.00, supported by institutional flows and the ETF launch, indicates a new phase of price discovery for the asset. If the $3.00 level holds as support, XRP may secure a more stable position in the market.