XRP Surges Past $2.45 as Government Shutdown Ends: ETF Launch Could Push Prices Toward $5-$18
XRP has gained around 10% in the last 24 hours and is now trading above $2.45. This is because news of a bipartisan Senate deal to end the
Quick overview
- XRP has surged approximately 10% in the last 24 hours, now trading above $2.45, following news of a bipartisan Senate deal to end the government shutdown.
- The anticipated launch of XRP-spot exchange-traded funds (ETFs) is expected to significantly boost institutional demand, with first-month inflows projected to reach $10 billion.
- Technical analysis suggests XRP is poised for a major upward movement, with potential price targets ranging from $4.79 to an ambitious $18.26 if the fifth wave breakout occurs.
- While bullish indicators are present, risks remain, including potential drops below key support levels and delays in regulatory approvals for XRP-related financial products.
XRP XRP/USD has gained around 10% in the last 24 hours and is now trading above $2.45. This is because news of a bipartisan Senate deal to end the historic 40-day government shutdown pushed cryptocurrency markets through the roof. During Sunday’s session, the token briefly reached $3.10 before settling into its current range. This was a key turning moment for the digital asset, according to analysts, and it did better than both Bitcoin BTC/USD and Ethereum ETH/USD.
Senators Angus King, Jeanne Shaheen, and Maggie Hassan worked with their Republican colleagues to get enough Democratic votes to reopen the government. President Trump verified the news by saying that the longest shutdown in U.S. history had finally come to an end. The House will now go at the accord before it goes to the President for final approval.
XRP-Spot ETF Floodgates Set to Open This Week
The reopening of the government has big effects for XRP’s short-term future, especially when it comes to the long-awaited debut of XRP-spot exchange-traded funds. Canary Funds looks like it will be the first issuer to launch an XRP ETF, maybe as soon as Thursday, November 13. This will be possible because of a Section 8(a) auto-effective mechanism that avoids the usual delays that come with getting SEC clearance.
Nate Geraci, President of NovaDius Wealth Management, summed up what people were thinking about the market in a few words: “Government shutdown ending = spot crypto ETF floodgates opening.” Three more issuers—21Shares, Bitwise, and Franklin Templeton—have filed updated S-1 documents that could allow for launches that are almost simultaneous. On the other hand, CoinShares, Grayscale, and WisdomTree may have to wait longer because the SEC staff has a lot of work to do.
Steven McClurg, the CEO of Canary Capital, has greatly upped expectations for institutional demand. He now thinks that first-month inflows might be $10 billion instead of the $5 billion he originally thought. McClurg said, “If we saw that kind of inflow, I think it would definitely be in the top 20 ETFs of all time, if not in the top 10.” This shows how powerful institutional adoption may be.
XRP/USD Technical Analysis Points to Fifth Wave Breakout
There has been a lot of volatility in XRP recently, including a flash drop to $0.7773 on October 10 before it bounced back. However, technical indicators show that the cryptocurrency is ready for a big upward surge. Egrag Crypto, a well-known analyst, says that XRP is in its fourth corrective wave within the Elliott Wave paradigm. This sets the stage for what he calls “the most explosive fifth wave yet.”
XRP is currently trading between $2.30 and $2.45, below both the 50-day EMA ($2.56) and the 200-day EMA ($2.58), which are also areas of imminent resistance. The token has held strong above $2.35, $2.20, $2.00, and $1.90, which are important support levels. This is despite the fact that the market as a whole has been unstable.
XRP’s bull runs in 2017 and 2021 show very similar five-wave patterns that happen before big price rises. If the fifth wave goes as planned, Fibonacci extensions point to possible goals of $4.79 (1.272 level), $5.52 (1.414), $6.76 (1.618), and an ambitious $18.26 (2.618). Egrag Crypto told his followers about a trader who lost $30 million shorting XRP during the 2024 rise. He ended by saying, “Don’t fight the fifth wave—ride it.”
Multiple Catalysts Converge for Medium-Term Bull Case
There are a number of basic changes that promote a positive medium-term prognosis, in addition to the debut of ETFs. Ripple’s request for a U.S.-chartered bank license could be a turning point for mainstream adoption, and pending legislation like the Market Structure Bill could help make things clearer for regulators.
The fact that blue-chip firms might add XRP to their treasury reserves, like how they did with Bitcoin, is another reason to be bullish. But there are still problems: BlackRock hasn’t filed for an iShares XRP Trust yet, and SWIFT is still in charge of the worldwide remittance market that Ripple wants to change.
XRP Price Prediction: Near-Term Targets and Risk Scenarios
Bullish Scenario: If the price stays above $2.56 (50-day EMA) and $2.58 (200-day EMA), it would confirm a trend reversal and set a target of $2.62. If ETF launches go well and a lot of money comes in, XRP might rise to $2.80-$3.00 in the near future. Fibonacci objectives of $4.79-$6.76 are possible in the current cycle. If institutions start using it a lot more quickly, the aggressive $18.26 objective is still attainable.
Bearish Scenario: If the $2.35 support level isn’t held, the price could drop to $2.20 and then $2.00. If Congress takes too long to act, BlackRock drops XRP ETF plans, or Ripple’s intentions to get into banking run into regulatory problems, it might slow down positive momentum and cause the October flash crash lows to be retested.
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