- XRP must hold $2.70 support to keep rebound chances toward $3.20 alive, analyst says
- XRP technicals: RSI near 40 signals weak demand, MACD steadies as selling pressure eases.
- XRP joins Hashdex Nasdaq ETF expansion as BlackRock cites demand in crypto ETFs.
XRP is trading close to $2.80 after rebounding from the $2.70 support level. During the last month, the asset traded between a 30-day low of $2.70 and a high of $3.18, which forms a range that traders are closely monitoring.
XRP Defends Support Level Amid Market Volatility
According to crypto analyst Ali, XRP must maintain the previous level at $2.70 to keep moving toward $3.20. His chart shows several defenses on the same floor in August and September. This sentiment is consistent with the recent spot readings, indicating that buyers are reacting around $2.70–$2.72.
Technical charts show that the level of $2.70 is a critical floor that has been tested multiple times in the past few weeks. Maintaining this level gives positive sentiment for a recovery to $3.00–$3.20, and any confirmed breakout over $3.20 can lead to a price recovery to the July high at $3.66.
However, if the cryptocurrency trades below $2.7, analysts warn that the price might reverse toward $2.20–$2.50, with long-term support at $2.
According to TradingView data, the momentum indicators also present mixed signals. The Relative Strength Index (RSI) is close to 40, suggesting low demand. However, a move above the RSI midpoint at 50 may signal renewed buying interest.
At the same time, the MACD histogram is slightly negative but stabilizing. These readings indicate that despite the persistence of selling pressure, downside momentum might be weakening.
BlackRock exec cites demand, liquidity in future ETF review
Other developments in the ETF sector may further influence the price trends of the cryptocurrency. BlackRock Head of Digital Assets Robbie Mitchnick explained the process of evaluating new cryptocurrency products in an interview with ETF analyst Nate Geraci.
Although Mitchnick did not confirm plans for a spot XRP ETF, he said that such decisions will depend on client demand, market capitalization, liquidity and how well it fits within broader investment strategies.
Meanwhile, the cryptocurrency’s market standing boosts its case for consideration. With a market cap exceeding $165 billion it ranks as the third-largest non stablecoin cryptocurrency.
This comes after BlackRock’s spot Bitcoin and Ethereum ETFs secured inflows of $60.25 billion and $13.35 billion, respectively. Investor interest in XRP-backed products also gained visibility through the REX-Osprey XRP ETF, which recorded $37.7 million in first-day trading volume.
Also Read: Will XR Stay Above $2.70? Flare’s FXRP Brings Fresh Utility to Holders
Hashdex Multi-Asset Crypto ETF to Include XRP
In addition, Hashdex asset management broadened its Nasdaq-listed Crypto Index (US) ETF offering (NCIQ) to include Chainlink, XRP, Solana, and Stellar. The product, which initially only included Bitcoin and Ethereum, now gives exposure to five major cryptocurrencies representing more than $3 trillion in combined market cap.
Moreover, by being part of a regulated and diversified ETF, XRP may gain visibility with institutional and retail investors in traditional equity markets.
Analysts also expect more crypto ETFs to launch in the US market due to a new framework. The adoption comes after the SEC approved generic listing rules in crypto ETFs in September, a regulatory amendment that aimed to accelerate the decision-making of qualified assets. Under such regulations, tokens that have established futures market or commodity status can be included in exchange-traded funds.
Also Read: Hashdex Debuts World’s First Spot XRP ETF on Brazil’s B3 Exchange
