Key Insights:
- SEC Crypto Task Force, BlackRock’s managers feel more confident about having an XRP ETF approved.
- At the moment, XRP is at $2.42, it has a market cap of $142.3 billion after experiencing an increase in trading volume to $5.42 billion.
- JA Mining introduced a daily income plan that is regulated by the FCA.
BlackRock has agreed to a meeting with the SEC Crypto Task Force over crypto ETFs, staking, and tokenization. Because of this news, many see a higher chance of an XRP ETF being approved.
According to the release, the conference will focus on BlackRock’s digital assets products, debates on staking, examining tokenization under federal securities laws, approval standards for crypto ETPs, and considerations for crypto ETP options.
A year of anticipation about XRP ETFs finally ended with this news, bringing it closer to gaining approval and expanding in the market.
Data from CoinMarketCap as of press time, showed that XRP is currently going for $2.42, which is about 1% lower than it was 24 hours back, but the coin still has a large market value of $142.3 billion. The 24-hour trading volume went up to $5.42 billion, which means people were trading more compared to the previous day.
XRP’s recent price movements show it has bounced back from the lows and is now trading comfortably above the $2.40 mark. The market capitalization helps XRP stay in fourth place among all the major cryptocurrencies when it comes to value.
The relatively high level of volume to market cap, which is 3.82%, shows that there were lots of buyers and sellers in the market during this time.
Technical Chart Analysis Supports Further Growth Potential
Binance charts reveal that XRP is breaking out against USDT in a key way. After the trend of consolidation over a few months, XRP has broken through the downward resistance line. Reaching above the $2.50 price barrier is a technical victory.
Trading around $2.5475, XRP is above the resistance line of the triangle, suggesting that its breakout is becoming real. Volumes increased on the breakout, which shows it was a positive sign. Next, the resistance area that matters most is seen between $2.90 and $3.00, as it is where sellers stopped gains in the past.
If market conditions get more volatile, the downside can be protected by support found at $2.00, $1.62, and $1.27. If the momentum holds, traders and investors will look to break through $3.40 again.
There is a lot of action on Binance each day, as the trading volume for XRP was over 238 million. This activity corresponds with a surge in attention from ETF-related news and expected updates in regulations.
As long as the bulls lead, XRP could move towards the previous all-time high of $3.40 and even surpass that. Still, support may be found first around the recent breakout level of $2.26, then at historical levels found at $2.0029, $1.6037, and $1.2728. These supports have worked very well in the past and are expected to support the price if it goes down.
On May 11, 2025, XRP bounced back slightly, causing its price to improve by 5% and reach $2.46. As a result, XRP saw its market value rise above $140 billion. There is greater interest among institutions for XRP ETFs, as statistics show a high chance of these being approved at 79%.
The increased movement of more than 70 million XRP by whales into exchanges suggests that the market is becoming much more active for liquidity and trading.
Because of the increased trading taking place, this movement may lead to further price gains if XRP breaks through the $2.50 resistance.
Generally, the structure points to upward movements and momentum supporting the growth. The breakout should continue to hold, and the market should stay above it for the trend to develop further.