XRP surged 2% to reclaim $2.30 following ProShares’ Ultra XRP ETF listing on DTCC platform, signaling institutional readiness for XRP futures trading.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
2 mins read
Ripple XRP $2.26 24h volatility: 0.2% Market cap: $133.78 B Vol. 24h: $4.52 B price broke above the $2.30 mark on Tuesday, July 8, as markets reacted to the positive developments surrounding XRP Futures ETFs. Can XRP bulls capitalize on the positive sentiment to flip the $2.50 resistance?
XRP price saw 2% gains on Tuesday reclaiming the $2.30 level as Depository Trust and Clearing Corporation’s (DTCC) formal listing of ProShares’ Ultra XRP ETF (UXRP) lifted market sentiment.
The fund’s inclusion on the DTCC platform suggests operational clearance for XRP Spot ETFs, even as the US Securities and Exchange Commission begins final regulatory checks.
According to filings, ProShares is targeting a July 14 launch date for the Ultra, Short, and UltraShort XRP ETFs with a target of 2x daily return of XRP futures.
These futures-based instruments will give traders access to leveraged exposure without directly holding XRP. While the trading debut depends on the exchange, the DTCC listing confirms backend approval for clearing and settlement.
XRP price action shows technical resilience, trading at $2.30 and maintaining key support around the $2.20 mark. The crossover between the 100-day and 200-day moving averages confirms a Golden Cross at this pivot point, a bullish signal that often precedes major rallies.
Moreover, the symmetrical triangle pattern in the chart hints at consolidation ahead of a breakout. A daily close above $2.35 resistance would open the door for a sharp move toward the next key psychological resistance levels at $2.40 and $2.50 especially if the ETF launch triggers a significant increase in trading volumes.
Ripple XRP price forecast | Source: TradingView
Relative Strength Index (RSI) is currently at 58.89, signaling more room for further upside before treading into overbought zones. However, rejection at the triangle resistance could invite a retest of the area below $2.20.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
