TLDR
- XRP price held above $2.00 despite SEC delaying altcoin ETF decisions
- Ripple CEO Brad Garlinghouse proposed a real-time salary payment model using XRP
- XRP is trading around $2.30 with key resistance at $2.39 (Keltner upper band)
- XRP futures ETFs by ProShares Trust will launch on April 30
- Analysts suggest XRP could reach $5 if positive momentum continues post-ETF launch
XRP price has shown remarkable resilience in recent days, maintaining levels above $2.00 despite delays in the U.S. Securities and Exchange Commission’s (SEC) decision on various altcoin ETFs. The cryptocurrency is currently trading around $2.30, showing a 4.2% gain over the past seven days.
The SEC’s delay in ETF decisions affected several cryptocurrencies including Solana, Cardano, Avalanche, and XRP. This initially triggered a sell-off as capital rotated back to Bitcoin and Ethereum, with XRP dropping to a daily low of $2.3.
However, Bloomberg analyst Eric Balchunas clarified that these delays were part of the normal review procedure, with high chances of eventual approval. This reassurance helped altcoin markets regain balance, with XRP recovering to retake the $2.30 level.
Ripple’s price movement occurred between $2.01 and $2.17 before recovering, reflecting market participants’ confidence despite regulatory uncertainty.
Real-Time Payment Innovation
Ripple CEO Brad Garlinghouse has sparked fresh interest in XRP’s utility with an innovative salary model proposal. Garlinghouse questioned the traditional payment schedule, asking, “Why not get paid daily, hourly, or even by the second?”
His proposal centers on eliminating outdated friction in global payments. Garlinghouse argued that monthly or biweekly paycheck systems exist only due to settlement lag in traditional finance.
The proposal suggests that Ripple’s on-chain payments infrastructure could enable seamless, real-time compensation flows. With RippleNet and the XRP Ledger already facilitating low-cost, cross-border payments, this use case could position XRP for major gains and wider adoption.
This vision may have contributed to XRP’s price recovery above $2.30 following the announcement.
The idea of real-time salary payments could attract interest from fintech leaders and institutional players exploring payroll automation. If successful, this application would transform XRP from a speculative asset into a core financial utility.
Technical analysis shows XRP trading just below the Keltner Channel midline resistance of $2.3877, which serves as the first major hurdle for bullish continuation.
The Relative Strength Index is approaching the overbought zone at 68.87, while the RSI Moving Average has trended higher to 54.55, supporting ongoing momentum.
A bullish crossover occurred in mid-April, with the green histogram continuing to widen, suggesting sustained buyer interest. However, trading volumes remain capped at 18.58M, indicating the current rally needs stronger accumulation support.
Key support levels include $2.17 (Keltner mid-band) and $1.96, while resistance sits at $2.39 (Keltner upper band) and the psychological threshold of $2.50.
ETF Developments
In a major development, the SEC has approved ProShares Trust for the issuance of three XRP futures ETFs: Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF. These products will launch on April 30, enabling investors to gain exposure to XRP price movements without directly owning the asset.
Following this announcement, XRP experienced a 10.06% increase over the last 7 days, reaching a value of $2.31. In the past 24 hours, trading volume surged by 71.87% as traders positioned themselves ahead of the ETF launch.
Technical analysts note that XRP has broken above its previous resistance level of $2.20 and is consolidating near $2.30. The major resistance area lies between $2.50 and $2.70.
The futures ETF approvals could pave the way for spot-based XRP ETFs, further connecting Ripple to the traditional financial ecosystem.
Investor sentiment remains highly bullish, supported by whale accumulation patterns and increased social and trading volume. XRP’s focus on payments infrastructure provides a strong utility thesis that distinguishes it from purely speculative cryptocurrencies.
On the hourly chart, XRP is forming a contracting triangle with support at $2.220. The price is trading below $2.2650 and the 100-hourly Simple Moving Average.
If XRP fails to clear the $2.2650 resistance zone, it might start another decline. Initial support is near $2.220, with the next major support at $2.20.
The ProShares XRP ETF launches represent the latest regulatory breakthrough for the cryptocurrency, potentially opening the door to greater institutional investment.
