$XRP is struggling to regain bullish momentum after getting rejected at the key $2.50 resistance level. The token currently trades at $2.25, with strong market cap and volume, but momentum remains weak.
A major catalyst hit the market this week: the launch of the Canary XRP ETF (NASDAQ: XRPC) — the first U.S. spot ETF offering direct exposure to XRP. The product boosts institutional access and highlights XRP’s real-world utility, including fast, low-cost transactions and growing enterprise adoption.
Why XRP Stalled Despite the ETF launch, XRP couldn’t break the descending trendline near $2.50. Sellers stepped in, pushing price back inside a tightening symmetrical triangle. On the 4-hour chart, XRP trades below the 20-EMA with an RSI of 39, signaling weak buying pressure. Key support remains at $2.21.
XRP Outlook XRP is nearing a decisive breakout point:
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Bearish scenario: A close below $2.21 could lead to $2.07 and $1.92.
Bullish scenario: A close above $2.33 may spark a move toward $2.52 and $2.68.
With the triangle nearing its apex, the next move will likely be sharp. Traders should wait for a confirmed breakout before entering positions.