XRP Surges With Bullish Momentum Ahead of ETF Launch: Price Outlook and Key Levels

XRP, currently ranked as the fourth-largest cryptocurrency by market capitalization, is gaining strong upward traction, recording a 4.80% increase over the past 24 hours. As of April 28, XRP is trading around $2.27, after touching an intraday high of $2.29 and a low of $2.17.

Trading activity has intensified significantly, with daily volume soaring to $3.9 billion, reflecting a surge in both retail and institutional investor interest. The heightened trading volume signals growing confidence and participation in XRP’s recent rally.

For several months, XRP had been confined within a descending parallel channel, but recent price movements show it hovering just beneath the channel’s upper boundary near $2.28.

A major bullish technical signal has emerged: XRP has broken out of an inverted head-and-shoulders pattern. After surpassing the neckline between $2.20 and $2.25, the price swiftly climbed toward $2.27, confirming the reversal pattern and reinforcing bullish sentiment.

The Relative Strength Index (RSI) has climbed to 59.28, moving upward from last week's sub-50 levels. This suggests increasing buying pressure without entering overbought territory, keeping the bullish momentum intact.

XRP Price Analysis: Key Technical Indicators

The Moving Average Convergence Divergence (MACD) indicator also paints a positive picture. The MACD line has moved up to 0.034, crossing above the signal line at 0.029 a classic bullish crossover. The widening gap between the two lines and the growing size of the histogram bars further highlight strengthening bullish momentum.

If XRP maintains this trend, key upside targets are:

• $2.36 (first resistance)
• $2.56 (next target)
• $2.76 (major Fibonacci resistance)

A clear breakout beyond $2.76 could open the path toward $3.04, with an extended rally potentially reaching $3.40.

On the downside, support levels to watch include:

• $2.17 (recent intraday low)
• $2.00 (psychological round number)
• $1.85 (lower boundary of the previous trading channel)

XRP has also demonstrated resilience, holding above the $2.220 support area, which aligns closely with the 50% Fibonacci retracement from the rally between $2.162 and $2.294.

Additionally, an hourly bullish trend line has formed with support at $2.240, reinforcing the bullish setup. Immediate resistance is expected near $2.30, followed by stronger resistance around $2.32.

XRP ETF Approval Sparks Investor Optimism

Over the weekend, while Bitcoin and many major altcoins remained relatively steady, XRP stood out as the top-performing large-cap crypto. After briefly dipping to $2.16, XRP surged to nearly $2.30, marking its highest point in several days.

Adding to the positive sentiment, the U.S. Securities and Exchange Commission (SEC) has officially approved ProShares Trust’s XRP ETF, with the launch set for April 30, 2025. This regulatory green light is expected to significantly boost institutional adoption and overall trading volume.

ProShares received clearance to roll out three Ripple-focused ETFs:

• Ultra XRP ETF (2x leveraged)
• Short XRP ETF
• Ultra Short XRP ETF (-2x leveraged)

These new products follow similar leveraged XRP ETFs introduced by Teucrium earlier this month, further expanding XRP's exposure to a broader range of investors.

The derivatives market reflects this enthusiasm, with XRP trading volume jumping by 79.20% to $8.35 billion, while open interest rose 3.82% to $3.99 billion. Meanwhile, options trading activity saw dramatic gains, with options volume increasing by 114.52% and options open interest climbing 16.79%, clear indicators of growing speculative interest.

On major exchanges like Binance, long-to-short ratios heavily favor bulls, with the Binance ratio climbing above 2.5. Weighted funding rates also reveal that more traders are betting on XRP’s upside than its decline.

What’s Next for XRP?

Traders and investors should keep a close eye on XRP’s price action in the coming days, as the ETF launch could trigger increased volatility and liquidity inflows, potentially leading to sharp price moves.

Overall, the technical setup, combined with the upcoming ETF debut, points toward a continuation of XRP’s bullish trend, provided it can successfully break through the key resistance levels ahead.