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- Purpose XRP ETF launch on June 18 could attract institutional inflows and redefine North American regulatory sentiment on Ripple.
- Legal clarity emerges as SEC lowers Ripple fine, raising expectations of resumed institutional sales and broader U.S. market participation.
XRP (Ripple) is currently trading at $2.21, down slightly by -1.22% on the day, with a weekly drop of -4.69% and a monthly decline of -6.06%. Despite short-term pullbacks, XRP remains up 6.39% year-to-date and has surged +352.37% over the past year, with an eye-popping +37,550% all-time return since inception.
The current price is still below its all-time high of $3.40, but recent momentum suggests an important shift in sentiment.
XRP is benefiting from several major catalysts. Most notably, North America’s first spot XRP ETF, launched by Purpose Investments, is set to begin trading on the Toronto Stock Exchange on June 18, offering direct exposure and tax advantages to institutional investors.
According to the statement:
“The ETF will be available in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units, and will be eligible for holding in registered accounts such as TFSAs and RRSPs.”
Additionally, Ripple’s long-standing legal battle with the U.S. SEC is reaching a resolution — with the regulator proposing to lower Ripple’s fine to $50 million and potentially lifting restrictions on XRP institutional sales. This represents a significant turning point that may restore confidence among U.S.-based investors.
Network activity on the XRP Ledger (XRPL) is also accelerating. Whale wallet counts have hit record highs, and XRPL activity has surged 7x, indicating renewed interest from both large holders and developers. This is coupled with Ripple’s plans to build a virtual Ethereum-compatible chain, expanding XRP’s smart contract capabilities and appeal within the broader DeFi space.
Technically, XRP is consolidating near key support at $2.10, with resistance between $2.34–$2.64. A breakout above this zone could lead to a retest of prior highs, with some analysts projecting targets in the $5–$8 range in the mid-term.
Indicators such as MACD and RSI are showing early bullish divergence, while price action forms a potential bull flag pattern, typically a continuation signal after strong rallies.
While some traders fear a dip below $2.00 before a larger breakout, many see current levels as a launchpad for the next leg higher, especially as legal clarity and institutional support align. Speculative price models — including wildly optimistic calls for $10 or even $1000 XRP — have resurfaced, though these should be viewed as extreme long shots.
The post Can XRP Hit $5 After ETF and SEC Breakthrough? Bull Flag Says Yes appeared first on ETHNews.
Read the original article on coinmarketcap.com
