XRP Climbs as Breakout Gains Strength and ETF Progress Sparks Optimism

XRP retests key resistance near $2.40 after breaking a descending trendline, with bullish momentum backed by strong trading volume.

SEC approval of GDLC’s ETF conversion brings ADA, SOL, and XRP closer to U.S. spot ETF exposure, boosting investor optimism.

Market awaits both Ripple case clarity and SEC listing standards as XRP gains 36.79% from lows, signaling strong recovery potential.

According to analyst World Of charts, XRP is back in the spotlight after breaking through a critical descending trendline, sparking bullish momentum. The token is now retesting key resistance near $2.40. This comes after XRP surged to $3.00 in early July before sellers forced a pullback. Currently trading at $2.2685, XRP has gained 2.29% in the latest session. The recovery is up 36.79% from recent lows. Increased trading activity and volume suggest growing investor interest as the market braces for more clarity around crypto ETFs in the U.S.

Source: World Of Charts

XRP Price Holds Strong After Bullish Breakout

Throughout May, XRP moved sideways in a consolidation zone between $2.10 and $2.40. Price action stayed largely within that rectangle. In June, the asset faced multiple rejections while trying to break above resistance. A series of lower highs formed a descending trendline.

However, July changed the picture. A sharp spike in volume fueled a breakout attempt. XRP broke the descending trendline, signaling renewed bullish strength. The price pushed toward $3.00 before sellers stepped in.

Now, XRP is retesting the breakout zone. Holding above the trendline could confirm a trend reversal. This technical setup shows promise if the asset continues to attract volume and buying pressure.

ETF Developments Add Fuel to XRP Sentiment

In a key regulatory update, the SEC approved a rule change for the Grayscale Digital Large Cap Fund. This allows the fund to convert into an ETF holding BTC, ETH, ADA, SOL, and XRP. Significantly, it marks the first time ADA, SOL, and XRP would enter the U.S. spot ETF market.

However, the SEC also imposed a temporary stay on the ETF launch. Still, industry experts view this as progress. ETF Store President Nate Geraci believes the delay reflects the SEC’s push to establish clear listing standards.

Moreover, insiders suggest the SEC may introduce a streamlined path for token-based ETFs. This would reduce paperwork and create smoother approvals. Investors are also watching for a possible SEC decision on the Ripple case, which could impact XRP’s regulatory clarity.

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