XRP Rallies 4% to $2.50 as ETF Approval Progress Accelerates Amid Government Shutdown Resolution

XRP Rallies 4% to $2.50 as ETF Approval Progress Accelerates Amid Government Shutdown Resolution - Blockchain.News

Quick Take

• XRP trading at $2.39 (up 2.4% in 24h) • ETF approval progress and government shutdown resolution driving recent gains • Price testing resistance near $2.53 daily high • Following broader crypto recovery alongside Bitcoin's positive momentum

Market Events Driving Ripple Price Movement

XRP price movement over the past week has been primarily driven by two significant regulatory developments that have restored investor confidence in the digital asset space.

The most impactful catalyst came today as XRP surged 4% to $2.50 following tangible progress toward ETF approval. The Securities and Exchange Commission cleared S-1 filing delays, while the Depository Trust & Clearing Corporation listed nine XRP-related tickers, signaling concrete steps toward institutional product launches. This regulatory clarity has been a long-awaited development for XRP holders who have endured years of legal uncertainty.

Adding to the positive sentiment, XRP gained an additional 5% earlier this week when President Donald Trump signed legislation ending the 43-day government shutdown. The resolution removed a significant overhang on traditional and crypto markets, with XRP benefiting from the broader risk-on sentiment that followed the political breakthrough.

Ripple's strategic vision also contributed to price momentum when CEO Brad Garlinghouse detailed the company's 2026 roadmap during the Swell conference, resulting in a 3.5% price increase. The presentation outlined expansion plans for institutional partnerships and cross-border payment solutions, reinforcing XRP's utility narrative.

XRP Technical Analysis: Consolidation Above Support

Price Action Context

XRP price is currently trading at $2.39, positioned below all major moving averages, indicating the asset remains in a corrective phase despite recent gains. The token sits below the 7-day SMA at $2.38, the 20-day SMA at $2.44, and significantly below the 200-day SMA at $2.63. This technical positioning suggests XRP needs sustained buying pressure to reclaim bullish momentum.

Trading volume on Binance spot reached $510.6 million over 24 hours, representing elevated activity that supports the recent price recovery. The volume surge coincides with the regulatory developments, indicating institutional and retail interest in the ETF approval narrative.

Key Technical Indicators

The RSI reading of 47.35 places XRP in neutral territory, providing room for further upside without entering overbought conditions. This positioning is constructive for continued recovery attempts.

MACD indicators show mixed signals with the main line at -0.0514 remaining below the signal line at -0.0656, but the histogram reading of 0.0141 suggests bullish momentum is building. This divergence often precedes trend reversals in Ripple technical analysis.

Bollinger Bands analysis reveals XRP trading at 41.83% of the band width, positioned between the middle band at $2.44 and lower band at $2.17, indicating potential for mean reversion toward the upper band at $2.70.

Critical Price Levels for Ripple Traders

Immediate Levels (24-48 hours)

• Resistance: $2.53 (today's high and previous rejection point) • Support: $2.32 (today's low and key intraday level)

Breakout/Breakdown Scenarios

A sustained break above $2.53 could target the 20-day moving average at $2.44, followed by the upper Bollinger Band at $2.70. Failure to hold $2.32 support might see XRP price retesting the $2.07 immediate support level, with a deeper correction possible toward $1.25 strong support if selling accelerates.

XRP Correlation Analysis

Bitcoin's positive performance today has provided a supportive backdrop for XRP price action, with the broader crypto market benefiting from the regulatory clarity and government funding resolution. XRP is following Bitcoin's lead rather than diverging, suggesting continued correlation with macro crypto trends.

Traditional markets responded positively to the government shutdown resolution, with risk assets broadly higher. This correlation between traditional finance and crypto markets has benefited XRP alongside other digital assets.

Among crypto peers, XRP's regulatory progress provides a differentiated catalyst compared to other altcoins, potentially explaining its outperformance during recent sessions.

Trading Outlook: Ripple Near-Term Prospects

Bullish Case

Continued ETF approval progress could drive XRP price toward the $2.70 upper Bollinger Band and eventually challenge the $3.10 strong resistance level. Sustained volume above current levels and a break above the 20-day moving average would confirm bullish momentum.

Bearish Case

Regulatory setbacks or broader crypto market weakness could pressure XRP below $2.32 support. A breakdown would likely target $2.07, with the 14-day ATR of $0.17 suggesting volatility remains elevated for position sizing considerations.

Risk Management

Given current volatility metrics, traders should consider stops below $2.25 for long positions, representing roughly 6% downside risk. Position sizing should account for the $0.17 daily ATR when establishing new positions in current market conditions.

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