Ripple-backed XRP led a modest cryptocurrency rebound in the past 24 hours, driven by greater regulatory clarity from the U.S. Securities and Exchange Commission (SEC). The large-cap altcoin, with a fully diluted valuation of around $246 billion and a daily trading volume of about $10.5 billion, surged 7.7% to trade at $2.48 during the mid-London session on Thursday, March 20.
The XRP futures market saw a sharp increase, with open interest (OI) jumping over 18% in the last 24 hours to reach around $3.82 billion. This surge in volatility led to more than $36 million in liquidations from leveraged positions.
As Coinpedia has reported, XRP has already broken out of a six-year consolidation phase. From a technical perspective, it is now poised to enter a strong bullish phase, potentially heading toward price discovery.
For this rally to continue, XRP needs to close consistently above the $2.70–$3.00 resistance zone. However, traders are also watching a possible Head and Shoulders (H&S) pattern and a bearish divergence in the Relative Strength Index (RSI), which could slow momentum.
On the downside, XRP has strong support at $2.00, which could hold if the price faces a short-term pullback.
XRP’s demand has surged in recent months, driven by institutional investors working with Ripple Labs. Nearly a dozen asset managers, including Bitwise and Franklin Templeton, have filed for a spot XRP exchange-traded fund (ETF) with the SEC.
With Ripple now free from its legal battle with the SEC, CEO Brad Garlinghouse expects multiple spot XRP ETFs to be approved by the second quarter of 2025.
Beyond price action, the XRP Ledger (XRPL) has grown into a strong Web3 ecosystem. The launch of Ripple USD (RLUSD) has increased on-chain activity, further strengthening XRPL’s position in the blockchain space.
Regulatory hurdles are fading, institutional interest is surging, and XRP’s chart is heating up – 2025 might just be its biggest year yet.
XRP could hit $5 if bullish momentum continues, driven by ETF approvals, institutional adoption, and strong technical breakouts.
XRP shows strong growth potential with rising adoption, ETF prospects, and a bullish market trend, but risks remain.
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