XRP News Today: XRP's ETF-Fueled Rally Echoes 2017's Surge, Eyes $2.60

XRP rebounded from critical support near $1.96, fueled by surging inflows into newly launched spot ETFs and technical indicators signaling a potential mid-channel rally to $2.60. The cryptocurrency's price action followed a classic pattern of buyers stepping in at multi-layered support levels, including a broadening-wedge trendline, the 100-week EMA, and the 1.0 Fibonacci retracement. This bounce coincided with a record $164 million in ETF inflows on Nov. 24, pushing total flows to $586.7 million, with Grayscale's GXRP and Canary Capital's XRPC leading the charge.

The ETF momentum was amplified by institutional demand, as Grayscale, Franklin Templeton, and Bitwise each secured regulatory approval for XRP products. Grayscale's GXRP and Franklin Templeton's XRPZ began trading on Nov. 24, while Bitwise's XRP ETF joined the fray, offering investors regulated access through traditional brokerage platforms according to reports. These launches marked the first time two major altcoin ETFs debuted simultaneously on a U.S. exchange, signaling broader acceptance of XRP as an institutional asset class. Derivatives volume surged ahead of the ETF rollout, with XRP derivatives trading up 51% to $12.74 billion, reflecting heightened market anticipation.

Technical analysts highlighted XRP's clean bounce from a long-term channel, positioning $2.60 as the next key target. The price rebounded to $2.20, with on-balance volume surging to indicate strong accumulation by buyers. Crypto analyst Ali Martinez noted that a higher low and sustained volume above $2.06 could validate a larger recovery, with $2.60 serving as both a midpoint and psychological barrier. However, risks remain: whale selling saw nearly $480 million in XRP offloaded over 48 hours, creating downward pressure that could test $1.90 support.

The ETF-driven rally also drew comparisons to XRP's 2017 bull run, with analysts citing similar Gaussian channel breakouts and 42-day correction patterns. Institutional confidence was underscored by Franklin Templeton's XRPZ ETF, which captured the top trading volume spot within hours of its launch, and 21Shares' TOXR ETF, approved by the SEC and set to list on Cboe BZX. These developments align with XRP's broader regulatory clarity post-SEC settlement, enabling a $3 trillion crypto market cap recovery in late November.

While bulls eye $2.60, caution persists. The RSI showed divergence, and liquidation risks linger near $1.81, with a weak MVRV ratio indicating long-term holders are still unprofitable. Analysts like Gert Van Lagen emphasized the importance of holding above $1.90 to maintain a bullish trajectory. Meanwhile, the influx of ETFs-now totaling 11 products across spot and futures-signals a structural shift in XRP's market dynamics, potentially reshaping its volatility profile and institutional adoption.