What to know:
- XRP price is holding above the crucial $1.05 support zone, keeping the possibility of a bullish reversal intact.
- A three-day close above $1.50–$1.51 could invalidate the bearish setup and confirm a long-term bullish trend reversal.
- The ETF rebalance has increased attention on XRP alongside Bitcoin, Ethereum, Solana, and BNB.
The XRP price is holding a key support area as traders watch for confirmation of a bullish reversal. While technical signals remain mixed, a stronger breakout could improve market sentiment. Meanwhile, Grayscale’s latest ETF rebalancing has increased attention on XRP and reinforced its growing institutional relevance.
At the time of writing, XRP is trading at $1.04 with a 24-hour trading volume of $1.32 million and a market capitalization of $65.31 billion. Following the 1.77% loss over the last 24 hours, the XRP price structure and institutional demand point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XRP Price Signals Bullish Reversal as Evernorth Unveils Active Growth Strategy
XRP Price Eyes $1.50 Breakout for Bullish Reversal
According to the crypto analyst EGRAG CRYPTO, the XRP price maintains proximity to the critical level of $1.05 because the three-day symmetric triangle breakdown pattern has been completed.
The multiple gravestone doji formations, price breakdown below the triangle support level, and extended price consolidation indicate that this pattern looks like construction rather than bullish reversal. The analysts have advised that the buyers should defend the level to avoid further losses.
Source: EGRAG CRYPTO’s X Post
Technical traders have pointed out several significant resistance levels of $1.11, $1.21, $1.28-$1.30, and $1.38.
A firm close for three days above the level of $1.50-$1.51 will probably render the existing bearish setup invalid and indicate the emergence of a new trend for the XRP price. Until then, the $0.88 measured move target seems possible.
Grayscale ETF Rebalance Puts XRP Under Spotlight
The data from BankXRP further highlighted that Grayscale has filed a Form 8-K regarding its CoinDesk Crypto 5 ETF (GDLC).
This is an indication that the exchange-traded fund (ETF) has completed its quarterly portfolio assessment and has now entered into the scheduled process of rebalancing. The adjustments made will be in accordance with the methodology of the CoinDesk 5 Index (CD5).
Source: BankXRP’s X Post
The rebalance has certainly put XRP in the limelight, putting it right alongside Bitcoin, Ethereum, Solana, and BNB as the community waits for the new weight distribution of the assets.
An increase in the percentage of XRP might point out that XRP is gaining traction in the industry, increasing its significance to institutions.
Despite the bullish price predictions and institutional demand, the XRP price is moving in a downward direction. This move is backed by the general trend in the crypto market, as Bitcoin is also moving in a downward direction.
What Happens Next for XRP?
The XRP price is at an important juncture in terms of price, with the expectation being whether or not it can remain above strong support and rise above the $1.50 level once again.
Any breakout could strengthen the bull trend while also bringing in more institutional funds as the Grayscale XRP ETF holdings are increased.
Also Read: XRP Price Holds Near $1.07 as Ripple’s MiCA Approval Strengthens Institutional Outlook
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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