XRP Eyes $3 as ETF Launch Sparks Institutional Rebalancing

XRP is trading in a tight range as anticipation builds ahead of the ProShares XRP Futures ETF launch on July 18. Institutional players are showing signs of active position management, with key price levels emerging around $2.85 and $2.93. While $3.00 remains the psychological resistance, sell-side pressure at $2.93 and consistent accumulation near $2.85 indicate cautious rebalancing by corporate treasury desks.

Regulatory uncertainty continues to limit full allocation from institutional portfolios, as several firms await post-ETF-launch clarity. Despite repeated intraday rejections at $2.93—seen during 12:00, 13:00, 17:00, and 18:00 trading sessions—buyers are holding the $2.85 support, suggesting confidence in a potential upside move.

XRP has been forming higher intraday lows, indicating bullish undertones beneath the surface consolidation. A sharp rise from $2.88 to $2.90 in the final hour of trading, alongside a volume surge of over 2 million tokens between 02:36–02:42, confirms strategic accumulation ahead of potential volatility. However, a breakout above $2.93 requires confirmation through high-volume participation, ideally surpassing 100 million tokens traded.

Traders are closely watching for a decisive break above $2.93, which could open the path to $3.00 and attract broader institutional allocations. Conversely, a drop below $2.88 may trigger a retest of $2.82 and stall the current recovery structure.

With XRP stuck between firm support at $2.85 and resistance at $2.93, the market is waiting for ETF-driven momentum. Until then, volume and positioning remain the critical metrics. Institutions are clearly interested—but not fully committed—keeping XRP in a watch-and-wait mode as the ETF launch nears.