- XRP closes above key Fibonacci level, confirming multi-month breakout.
- Institutional ETF demand boosts confidence in XRP’s long-term growth.
XRP has surged past a critical resistance level, fueling optimism for a potential all-time high. Crypto analyst EGRAG CRYPTO reported that XRP has broken above the crucial Fibonacci 0.702 level on the 3-day chart.
The candle opened strongly, indicating bullish momentum, despite a minor upper wick, which the analyst said could be ignored due to the overall bullish structure.
EGRAG emphasized the importance of closing above $3.010 the wick of the March 2nd candle within the next 16 hours to confirm the breakout from the multi-month downtrend.
A successful close could set the stage for a move toward a new all-time high. The chart shows a clean breakout above the descending trendline.
Strong candle structure and volume suggest continued upside potential. EGRAG stated that July could be the month XRP accelerates further, declaring, “WE SHALL FLY!”
Bullish Momentum Sustained as XRP Targets $3.00
XRP/USDT is currently trading at $2.93, showing a 3.46% intraday gain. The daily chart reveals a robust uptrend, with the price consistently closing above the upper Bollinger Band. This behavior signals persistent buying pressure. Volume stands at 6.98 million, reinforcing interest in the ongoing rally.
Technical indicators support the strength of the move. The 20-day moving average at $2.36 now acts as dynamic support. The Directional Movement Index shows a strong trend, with +DI at 71.67, –DI at 7.34, and an ADX reading of 44.51.
Market participants are closely watching the psychological resistance at $3.00. A successful close above this level could push prices higher, while a rejection might lead to brief consolidation.
Institutional Demand Builds With ETF Filings
As reported in a Form N-1A submission, ProShares Trust has filed with the U.S. SEC to launch an XRP futures ETF. Unlike spot ETFs, this product will track XRP futures contracts, offering exposure without holding the asset directly. Under SEC rules, the fund is expected to list by mid-July.
Meanwhile, the Teucrium 2x Long Daily XRP ETF (XXRP) has grown to $248 million in assets as of July 14, 2025. The ETF provides 2x leveraged exposure to XRP derivatives and trades near its NAV of $42.42, with a 30-day median spread of 0.37%. Rising inflows underline growing institutional confidence in XRP’s long-term outlook.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
