XRP Price Holds Strong Around $3.05, Eyes on $3.21

Key Insights:

• XRP eyes $3.21 resistance, with strong momentum following recent price dip recovery.
• Bullish reversal, with Inverse Head & Shoulders pattern signaling potential upward move.
• 21Shares XRP ETF registered in Delaware, paving the way for increased institutional participation.

XRP is holding steady near the $3.05 mark, with attention turning to the $3.21 resistance target. Despite a brief dip below its consolidation pattern, XRP’s price has shown resilience, maintaining a bullish outlook.

CasiTrades Predicts $3.21 Resistance Level

CasiTrades a crypto analyst, has projected that XRP is heading towards a key resistance level at $3.21. After the recent price dip, which briefly dropped below its consolidation pattern, XRP’s recovery has been swift.

The market’s strong momentum and waning selling pressure suggest that $3.21 will be the next point of resistance. The analyst also mentioned that retracements are likely to occur between the .118–.236 levels, with XRP aiming to reclaim $3.21 as support.

BitGuru Highlights Potential for a Reversal

However, BitGuru, another recognized analyst, believes XRP is setting up for a reversal. The price is currently hovering around $2.85 after reacting from a key demand zone. The formation of an Inverse head-and-shoulders pattern suggests that XRP could see an upward move.

BitGuru noted the pattern indicates a bullish reversal. The analyst is watching for further confirmation as XRP stabilizes at this level, signaling potential strength in the coming days.

XRP ETF Officially Registered in Delaware

Moreover X Finance Bull has reported that the 21Shares XRP ETF is now officially registered in Delaware. Based on analyst, this development could positively affect XRP’s value. The legal structure for the ETF is complete, and infrastructure is being laid down ahead of broader market awareness. 

With the ETF in place, XRP could see increased institutional participation, potentially boosting its price. This move is expected to draw in more investors as they look to gain exposure to XRP through the ETF.

XRP remains strong at $3.08, with a 24-hour trading volume of over $9.5 billion. It has gained 7.12% in the last 24 hours, further reinforcing its potential for future gains.