XRP Holds $2.15 Support as It Aims for a Move Toward $2.70

Key Insights:

• XRP holds strong at $2.15 support, with a potential move to $2.40–$2.70.
• Whale activity and ETF launch impact XRP’s price, creating market volatility.
• Franklin Templeton’s ETF launch could drive increased demand and higher XRP prices.

XRP has managed to maintain crucial support at the $2.15 level despite recent fluctuations in the market. Traders are observing if the coin can stay above this level, which could indicate further upward movement. XRP is holding strong at the $2.15 level, which could set the stage for a potential move toward 2.70.

XRP Holds $2.15 Support Amid Market Movements

XRP has been maintaining strong support at the $2.15 mark, with traders closely watching whether it can hold this level. A move toward the $2.40 to $2.70 range is now considered possible if it continues to stay above this crucial price. Recent fluctuations have stirred both optimism and caution in the market.

XRP is trading at approximately $2.16, with a 24-hour trading volume exceeding $5.5 billion. The cryptocurrency has seen a slight decline of 0.79% in the last 24 hours. Analysts have pointed out that $2.15 remains a strong support level for XRP. If this level holds, XRP could see further price gains in the coming days.

Whale Activity and ETF Launches Affect XRP’s Price

In recent days, XRP whales have sold large quantities of the asset, unloading 200 million XRP within just 48 hours of the launch of a new exchange-traded fund (ETF). This sale of a significant amount of XRP has put downward pressure on the price, despite strong inflows from other traders. 

As noted by Coin Bureau, “Whales unloading 200M $XRP have dragged the price down.” The sudden surge in supply, combined with the excitement around the ETF launch, has created volatility. Market participants are still trying to assess how these factors will influence XRP’s price in the short term.

Franklin Templeton’s Spot XRP ETF

On the other hand, there is growing attention around Franklin Templeton’s launch of its spot XRP ETF (EZRP). This new financial product has stirred optimism in the market, with some analysts predicting that it could push XRP to new highs. Steph highlighted “XRP to $5 seems fair,” suggesting that the ETF could contribute to a rally in the coming days.