ETF Momentum Keeps XRP Afloat, But $3.56 Continues to Cap Upside

XRP ended Sunday’s trading session on a strong note, rebounding from a sharp intraday drop to close near $3.47. The recovery followed renewed investor enthusiasm sparked by the launch of the ProShares Ultra XRP ETF and the passage of sweeping U.S. crypto legislation that clears the path for broader institutional adoption.

After hitting new highs above $3.60 earlier in the week, XRP briefly tumbled over 4% to test key support near $3.40. Buyers quickly stepped in, driving a surge in volume and reclaiming lost ground by session close. Institutional accumulation was evident, with trading volume at the low spiking to more than 140 million—over 2.5x the daily average.

Key Drivers:

• ETF Debut: The ProShares Ultra XRP ETF officially began trading on the NYSE, giving traditional investors leveraged access to XRP for the first time.
• Legislative Clarity: The U.S. House passed the GENIUS Act, CLARITY Act, and FIT21 framework—landmark bills that resolve the long-standing debate over XRP’s security status and streamline market structure for digital assets.

Daily Price Action:

• Trading Range: XRP fluctuated between $3.403 and $3.557 during the 24-hour period ending July 21.
• Low Point: The token bottomed at $3.416 at 22:00 amid a high-volume spike.
• Recovery: XRP climbed 1.58% from its session low to settle at $3.474.
• Final Hour Strength: A 2.31% rise from $3.45 to $3.47 in the last 60 minutes highlighted renewed bullish momentum, with over 5 million XRP traded near 01:49.

Technical Setup:

• Resistance Zone: The $3.55–$3.56 range remains a tough ceiling, with repeated rejections despite high trading activity.
• Support Zone: Strong demand has formed between $3.40 and $3.42, defended multiple times by large buyers.
• Momentum Indicators: RSI remains neutral, and MACD is tilting slightly bearish—indicating possible sideways movement before another breakout attempt.

Market Takeaways:

• Institutional Rotation: The volume profile suggests that large investors are positioning aggressively in XRP amid regulatory clarity and new ETF access.
• Altcoin Pause: While XRP dominates flows, other altcoins have seen reduced exchange activity, suggesting delayed rotation or more selective buying.
• Spot ETF Watch: With a futures ETF now live and the legal framework clearer, expectations are rising for spot XRP ETF filings in the coming months.

What to Watch:

• A decisive break above $3.56 could clear the path to $3.84 and $4.20.
• A failure to hold $3.40 might open downside toward $3.17–$3.20.
• Ongoing institutional inflows and potential spot ETF headlines will likely remain the primary drivers of XRP price action in the near term.

As XRP continues to gain traction in the post-legislation landscape, the token is emerging as a frontrunner in institutional crypto portfolios. With legal hurdles removed and ETF demand building, momentum could accelerate—if bulls manage to crack resistance in the sessions ahead.