XRP Surges 6.2% to $2.40 as ETF Filings Ignite Institutional Momentum

XRP extended its bullish breakout on Tuesday, soaring 6.2% to reach $2.40 amid a surge in institutional trading activity. The cryptocurrency decisively broke above the key $2.35 resistance level on 169% higher-than-average volume, marking its strongest single-day gain in over a week. XRP briefly hit new cycle highs near $2.43 before consolidating just below its intraday peak.

Market excitement intensified after Canary Capital, Bitwise, Franklin Templeton, and 21Shares filed amended S-1 registration statements for spot XRP exchange-traded funds (ETFs). These filings, now listed on the DTCC, introduced standardized listing language to expedite SEC review under Section 8(a) procedures. Analysts say this alignment could fast-track approval, mirroring the momentum seen during the Bitcoin and Ether ETF cycles earlier this year. The coordinated effort underscores growing institutional appetite for XRP exposure as the network’s fundamentals continue to strengthen.

From a technical standpoint, XRP rallied from $2.26 to $2.40 through three strong impulse waves, producing a $0.19 intraday range. The breakout triggered at midnight UTC when trading volume spiked to 119.6 million tokens. Despite brief profit-taking, XRP maintained structural integrity above the 1-hour 50-EMA, signaling solid underlying demand. Momentum indicators remain bullish, with RSI steady near 64 and MACD showing positive divergence.

Traders are now watching the $2.39–$2.395 support zone, a key pivot for recent breakouts. Sustained closes above $2.40 could propel XRP toward the $2.50 extension and potentially into the $2.54–$2.80 range if ETF approvals materialize. However, failure to defend current support could lead to a pullback toward $2.34–$2.31. With ETF speculation and institutional inflows driving sentiment, XRP’s bullish momentum may continue through the quarter.