XRP News Today: Institutional ETFs Fuel XRP's Rally as Altcoin Targets $2.60 Breakout

XRP has rebounded from key support levels near $2.00, driven by a surge in institutional interest following the launch of multiple spot ETFs on major exchanges. The cryptocurrency now trades at $2.19, inching closer to the $2.60 midpoint of its multi-month price channel, as technical indicators and ETF-driven liquidity suggest a potential shift in momentum. Two new XRP ETFs—Franklin Templeton's XRPZ and Grayscale's GXRP—launched on NYSE Arca on November 24, propelling the token's price 5% to $2.25 within days. This follows a broader trend of increased ETF activity, with Bitwise and 21Shares recently securing SEC approvals for their spot XRP funds, joining seven existing providers. The ETFs collectively generated $85.7 million in first-day trading volume, with Bitwise leading the pack at $36.6 million, signaling strong institutional demand.

Technical analysis highlights a critical juncture for XRP. The price has bounced off the $1.95–$2.00 support zone multiple times this year, a level that has historically acted as a reliable floor. Analysts point to rising on-balance volume (OBV) as evidence of buyer accumulation, with Mikybull Crypto describing the trend as "very bullish". However, caution persists. The 20-, 50-, and 100-day exponential moving averages at $2.19, $2.38, and $2.53 form a stacked resistance cluster, capping rebounds. Meanwhile, Coinglass data reveals $22.96 million in net outflows on November 24, extending months of negative spot flows and underscoring lingering bearish sentiment.

The path forward hinges on XRP's ability to break above the $2.69–$2.84 resistance zone. A daily close above this range would confirm a trend reversal and open the door to higher Fibonacci targets, including the $3.50 level. Chart analysts note a falling wedge pattern, with the price rebounding off the lower boundary at $2.21 after multiple tests. ZAYK Charts projects a realistic upside target at $3.50 if the breakout materializes https://cryptofrontnews.com/xrp-rebounds-from-wedge-support-as-etf-volume-strengthens-breakout-outlook/. Conversely, a breakdown below $1.90 could trigger a new leg lower toward $1.70 or even $1.50.

Market participants are also monitoring ETF inflows as a catalyst for broader adoption. XRP ETFs have seen six consecutive days of inflows exceeding $420 million, with the first trading day alone surpassing $250 million-a record for new crypto ETFs this year. This surge reflects growing institutional confidence, particularly as regulatory clarity in the U.S. attracts capital to altcoins. Bloomberg analyst Maher Youssef anticipates a late-year rally if Bitcoin stabilizes, with XRP potentially reaching $3. However, he cautions that macroeconomic fragility could delay a sustained uptrend.

At the current price of $2.20, XRP remains 15% below its one-month high but has gained over 50% in the past year. The token's fully diluted valuation of $213 billion positions it as a key player in the altcoin market, with recent volume surges indicating heightened speculation. While bulls highlight ETF-driven liquidity and wedge patterns as bullish signals, bears warn that the stacked EMA cluster and persistent net outflows could prolong consolidation. The coming weeks will test whether XRP can sustain momentum above $2.60-or if it will revert to its pre-ETF trading range.