- XRP trades at $3.25 with support at $3.00 as ETF speculation grows; odds for approval rise to 86% by December 31.
- Rumors of BlackRock’s iShares XRP Trust boost optimism, but SEC appeal outcome is a key regulatory hurdle.
- RSI and volume show fading momentum; price may retest $2.75 if $3.00 fails, but long term strength holds above $2.50.
XRP ETFs speculation continues to rise with rumoured application from BlackRock. According to Polymarket data, the odds of an XRP ETF approval by July 31 is at just 2%. However, the probability rises sharply to 86% for approval by December 31.
This surge in confidence coincides with XRP outperforming most of the crypto market in July, led by investor interest and legal developments around Ripple Labs. At press time, XRP was trading at $3.25, maintaining strength after rallying from the $2.00 range in mid June.
The latest peak near $3.50 marked a major breakout, though recent price candles show slowing momentum. The market is awaiting the upcoming closed-door SEC meeting on July 31, which may involve a decision on whether to withdraw the agency’s appeal against Ripple.
BlackRock Rumored to Prepare XRP Trust Filing
BlackRock’s previous ETF successes with Bitcoin and Ethereum have intensified speculation that it may next target XRP. According to market chatter, the firm is reportedly preparing to file for an iShares XRP Trust.
However, legal clarity is key. A potential SEC appeal withdrawal would remove a major obstacle, making such filings more feasible. The current appeal comes from the ongoing case against Ripple Labs, with the market awaiting regulatory action this week.
Notably, optimism surrounding the case is playing a key role in XRP’s price movements. In addition to ETF speculation, Ripple Labs has launched RLUSD, a U.S. dollar-backed stablecoin.
It has already amassed over $530 million in assets. This development shows Ripple’s ongoing utility push and could support broader institutional confidence in XRP as a long term asset.
Technical Indicators How Cooling Momentum
Technical signals show a pause in XRP’s upward momentum following the July rally. The RSI has cooled to 63.99, down from a recent high of 74.84. While the RSI is in bullish levels, buying pressure appears to be fading.
Volume has also declined, with current daily activity at 94.79 million, suggesting reduced momentum after the earlier surge. Meanwhile, the MACD indicator shows the histogram shrinking and nearing neutral level. A bearish crossover could emerge if weakness persists.
Support has formed above the $3.00 level, a key psychological and technical zone. Resistance is firm near $3.50. Failure to hold $3.00 could push prices toward $2.75, though long term strength persists unless XRP breaks below $2.50.
Price Outlook Tied to SEC Decision and ETF Momentum
XRP’s recent 43% rally in July has outpaced Bitcoin and Solana but is behind Ethereum’s 52% monthly gain. Despite no confirmed ETF, institutional interest is growing, supported by Ripple’s payment solutions and ledger adoption.
The price path forward depends largely on regulatory decisions and any ETF related developments. A favorable outcome at the SEC meeting could lead to another rally attempt. BlackRock’s potential iShares XRP Trust filing remains a focal point for analysts, especially given the success of its IBIT and ETHA offerings.
XRP’s strength above $3.00 and continued institutional momentum could form the basis for renewed attempts to test resistance near $3.50.
