XRP price continued to glide for the second consecutive day, despite getting approval for the first spot ETF list in Canada.
According to recent reports, Asset Manager Purpose Investments has received the final approval from Canadian supervisors to launch the first place XRP ETF in the country. Trading for the goal XRP ETF starts on Wednesday, June 18, on the Toronto Stock Exchange under the Ticker XRPP.
Despite the approval that the Canadian investors gave an easy and regulated way to gain access to XRP, it did not lift a sentiment and the token remained under pressure. The price of XRP (XRP) fell by 3.4% to $ 2.17 in the last 24 hours, with its market capitalization fell to $ 127 billion.
The decline came when the wider crypto market capitalization fell 3.6% in the past day, with Bitcoin (BTC) and other large tokens also sliding in the midst of a weak general sentiment.
This was largely powered by increased geopolitical tensions in the middle and growing uncertainty around the upcoming interest decision of the US Federal Reserve. Rising inflation risks have reduced the hope of threatening cuts, causing a risk-off mood in the financial markets.
Despite the Bearish short -term pressure, there are various bullish catalysts on the rise for XRP.
A recent application from the court in the sec v. Ripple case showed that both parties agreed to a settlement of $ 50 million. If approved, this settlement could finally solve the long -term legal battle that has overshadowed the regulatory clarity of XRP and hindered its broader acceptance.
In addition, former CFTC chairman Chris Giancarlo, appointed during the Trump government, suggested the idea of publishing government bonds for crypto activa such as Bitcoin and XRP. He shared these insights during the XRPL APEX 2025 conference in Singapore, which indicates a growing policy shift in favor of regulated crypto financing.
Ripple also continues to anticipate product and regional expansion. The company is preparing for the rollout of his RLUSD Stablecoin, an important addition to its ecosystem. At the same time, Ripple strengthens the foot of regulation in important crypto-hubs such as Dubai and Singapore, which could improve the cross-border utility of XRP.
From a technical point of view, XRP forms a multi-months bull pattern on the 1-week/USDT graph. This bullish continuation setup usually precedes an outbreak, with price objectives based on the length of the initial flagpole.
In the case of XRP, a breakout could project a move to $ 4.61, which represents a profit of 114% compared to the current levels.
Technical analyst Mikybull Crypto, supported by this dissertation, drew parallels with the graph structure of XRP and noted that a similar breakout of the bullpennant preceded a collection of more than 1,300% to all time near $ 3.40.
Momentum indicators, however, give a mixed image. On the weekly graph, a Golden Cross has recently formed, with the 50-day SMA intersection above the 200-day SMA, usually a bullish signal that trend continues.
The daily card, on the other hand, is Bearish. The 200-day SMA has crossed over the 50-day SMA and forms a Death Cross, which is seen as a bearish reversing indicator in technical analysis. Moreover, both the MACD and the RSI are lower, which enhances the short -term risks.
The uncertainty of investors was further strengthened after the SEC had delayed its decision on the proposed place XRP ETF by Franklin Templeton, which extended the assessment period at the end of July. The delay, in combination with market -wide caution, has probably contributed to the underperformance of XRP.
If XRP loses the most important psychological support at $ 2.00, it seems to $ 1.62, the low point of April 2025, probably before some persistent rebound. Conversely, retaining this level and breaking above the resistance of the pennant can re -confirm the bullish scenario and release the road to a retest of cycle heights.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
