This week, XRP has caught the spotlight due to a rare chart setup and discussions about a potential U.S. ETF.
XRP Chart Signals
According to data from July 15, the 23-day moving average is close to crossing above the 200-day moving average, which has not happened on XRP's chart for several months. While the lines have not crossed yet, their proximity suggests a potential change in trend strength, possibly forming a 'golden cross'.
U.S. ETF Speculation
Meanwhile, there is a lot of buzz surrounding a potential XRP ETF in the U.S. Reports indicate that a product might be announced by July 18, adding to the current market excitement.
Price Implications for XRP
Last week, XRP's price hit $3.06 before slightly dropping to around $2.90. Currently, the price remains strong, and the token continues to trade above all major moving averages. The next potential breakout level could be the $3.20 mark.
With current technical and structural signals aligning, XRP's price action this week could be influenced as much by external news as it is by market dynamics.
