As XRP finds strong support at $0.48, investors are closely watching for movement, though weekly closing trends suggest a bearish lean. Ripple CEO Brad Garlinghouse recently stated that the launch of an XRP ETF is just a matter of time, even as the ongoing SEC case adds to market sensitivity. In the medium term, both XRP’s ETF potential and the case outcome could spark renewed investor activity.
XRP Holds Key Support, Awaits Potential ETF
Toward the weekend, as markets show signs of capital volatility and potential for upward movement, XRP has managed to stabilize at $0.48. This level represents a battle point, with bulls attempting to hold off bearish pressure. Yet, despite this support, the weekly close leans towards a potential downside, with limited short-term signs of a rally.
Following the rise of BTC ETFs, XRP investors are increasingly calling for a similar product. Ripple CEO Brad Garlinghouse recently emphasized that an XRP ETF launch is likely imminent. However, the ongoing SEC lawsuit against Ripple adds sensitivity to XRP’s market performance, even as the token price remains largely unresponsive to these developments.
Support Levels and Possible Price Movements
After retreating from its peak at $0.66, XRP is trading within a narrow range, moving in an ascending parallel channel. Indicators such as the RSI suggest weakness, with it approaching oversold territory, while average trading volume points to a balanced battle between bears and bulls. Recently, XRP has remained under its 200-day moving average, with a potential test of support between $0.51 and $0.509 anticipated. This area may see brief consolidation, possibly followed by an attempt to break above the $0.55 resistance—a challenge expected to test buyer strength.
Medium-Term Outlook for XRP
XRP’s stable price action in recent weeks has led to patient anticipation among investors. Over the long term, an XRP ETF and the outcome of the Ripple-SEC case could create a dynamic shift in the market. However, for now, XRP seems likely to consolidate within lower price levels in the short term.
