XRP Price Eyes $3 as New Ripple ETF Amasses $40M in Net Assets

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Ah, XRP. The restless wanderer of the crypto world, with its price swaying like a drunk sailor at sea. It recently ventured as high as $2.30, but, alas, stumbled back down to a humble $2.18. Yet, despite this little stumble, Ripple remains undeterred in its quest to surpass the mighty $3 threshold. The secret? Teucrium’s XRP ETF, which has managed to gather a shocking $40M in net assets in less than a month. You’d think a miracle had occurred, but no, just a new shiny financial product that has the world excited.

XRP Price Eyes Further Gains Amid ETF Success

The Teucrium website tells us, with much fanfare, that the 2x Long Daily XRP ETF has amassed over $40 million. Quite a feat for something that’s only been around since April 8, and already causing a stir. In fact, it’s the first XRP ETF to see the light of day in the US, making it a bit of a trailblazer. Investors, despite their ever-looming anxiety, seem to be flocking to this product like moths to a flame. Perhaps this is the start of a magical journey towards new highs, past the not-so-impressive resistance level of $2.20?

Meanwhile, Teucrium’s CEO, in a bid to keep the excitement rolling, told Bloomberg that XRP is the most “useful” cryptocurrency on the planet. Tokenization? Payments? Brokerage services? Apparently, Ripple’s doing it all. It’s the Swiss army knife of cryptos—if the Swiss army ever decided to get into the blockchain game.

Let’s not forget the whales. These crypto giants, with their deep pockets, are accumulating XRP at a rate that would make even the most seasoned traders sweat. Data from Santiment shows that when XRP price reached multi-week highs, addresses holding between 1M and 100M XRP snapped up a whopping 260M tokens. Talk about a feeding frenzy.

It’s hard to deny the bullish sentiment bubbling beneath the surface. With institutions and whales both clamoring for XRP, it’s beginning to look like this cryptocurrency might just make it to $3. The altcoin’s unstoppable, right? Traders, grab your popcorn. Things are about to get interesting.

Ripple Teases Breakout From Channel Pattern

For the past three months, XRP’s price has been trapped in a series of lower lows, like a boxer trying to land a punch while being stuck in a corner. But now? Ripple’s teasing a breakout from this descending parallel channel. It’s like a butterfly trying to break free from its cocoon—but with much more money involved.

If XRP can manage a decisive close above the upper trendline, the breakout will be confirmed. The first obstacle? $2.75. If Ripple can overcome that, then watch out. The journey could take it all the way past $3 to a possible new hurdle of $3.29. But let’s not get ahead of ourselves—clearing that $3.29 would open the floodgates to new all-time highs.

Of course, there’s always a catch. The RSI, that ever-watchful guardian of market movements, is showing signs of weakening. The buying pressure that pushed Ripple to $2.30 seems to be losing steam. If the RSI doesn’t rise again, we might be looking at a false breakout. The MACD line, too, is being closely watched—if it crosses above the zero line, then we’re in business. But if it falters, well, prepare for disappointment.

Now, if the RSI falls below 50, or the MACD turns out to be a fake-out, all this bullish talk will crumble. XRP might tumble back to $2.05. Not exactly the kind of prediction traders like to hear after a rally, right?

Still, with the massive institutional interest in Teucrium’s XRP ETF and the whales getting fat on tokens, it’s likely that Ripple will keep on climbing. Of course, the traders who took profits after the recent surge might slow things down, but hey, that’s the game we play.

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2025-04-24 12:02