Saad Ullah
XRP is still crushing it above $2, sitting pretty with over 300% gains from where it started before that insane November 2024 rally kicked off. While some early birds are cashing out their massive profits, new ETF launches are keeping the momentum alive for the fourth-largest crypto.
XRP (Ripple) Price Still Riding High Despite Profit-Taking
Anyone who grabbed XRP before the November madness started is laughing all the way to the bank right now. We're talking about 300% gains - that's basically tripling your money if you timed it right. Not too shabby for a few months' work.
Currently trading at $2.13 with a tiny 0.56% bump in the last 24 hours, XRP (XRP) has been chilling in a range between $2.06 and $2.338 since late May. The daily RSI is hanging just below 50, which usually means we're in for more sideways action before the next big move.
But here's where it gets interesting - Glassnode data shows early holders started taking profits in early June at around $68.8 million per day. That's a lot of XRP changing hands, probably flowing from diamond hands to newcomers jumping on the bandwagon.
What's Next for XRP Price Action?
The technical picture is pretty straightforward. If XRP breaks below that $2 support, we could see a drop to $1.61. Not the end of the world, but definitely not what bulls want to see.
On the flip side, punch through $2.34 and XRP could rocket to $2.65. That's another 22% upside from here, which isn't too bad considering how much it's already run up.
XRP (Ripple) Gets Love from Traditional Finance
This week brought some serious institutional action for XRP. Canadian firm 3iQ just launched their XRP ETF (ticker: XRPQ) on the Toronto Stock Exchange, giving North American investors a legit way to get exposure without dealing with crypto exchanges.
They're not alone either. Purpose Investments also rolled out their own XRP ETF this week, showing there's real demand from the traditional finance crowd.
Meanwhile, the SEC is taking public comments on Franklin Templeton's proposed XRP and Solana ETFs for U.S. markets. If those get approved, it could be huge for XRP adoption stateside.
Bottom line: XRP is holding strong despite some profit-taking, and with all this institutional interest, the next leg up could be just around the corner.
Saad Ullah
