XRP News Today: XRP Gains 1.8% Amid Institutional Activity Ahead of ETF Launch

XRP has been trading within a narrow range, closing at $2.89 with a 1.8% daily gain. The cryptocurrency faced resistance at $2.93, with institutional selling preventing breakouts above this level. Support was strong around $2.85, indicating significant buying activity from market makers and treasury desks. The price action suggests a tight-range rebalancing as the ProShares’ XRP Futures ETF launch approaches on July 18.

Throughout the trading period from July 15 04:00 to July 16 03:00, XRP fluctuated between $2.82 and $2.93, a range of 4.08%. Several attempts to break above $2.92–$2.93 were met with coordinated institutional selling, particularly at 12:00, 13:00, 17:00, and 18:00. Despite these rejections, the support around $2.85 remained robust, with volumes exceeding the daily average during key accumulation windows at 14:00 and 19:00. The final hour saw a move from $2.88 to $2.90, supported by significant token volume bursts, indicative of institutional activity.

As the ProShares’ XRP Futures ETF launch nears, institutions are aggressively rotating positions around key thresholds. While $3.00 remains the headline target, structured selling at $2.93 and consistent buy-side activity around $2.85 suggest a tight-range rebalancing by corporate treasury desks. Regulatory ambiguity continues to limit upside potential, with several desks unwilling to cross full allocation thresholds until ETF flows normalize.

Technical analysis indicates that XRP is in a tight consolidation channel under the $3.00 psychological ceiling. The $2.85 level continues to act as a key liquidity zone, with treasury activity concentrated near this level. Resistance at $2.93 holds firm, confirming near-term indecision. Despite rejection at the upper boundary, a classic pattern of higher lows is forming intraday. Momentum requires a clear break above $2.93 with volume above 100 million for continuation.

Traders are closely watching whether XRP will break above $2.93 ahead of the July 18 ETF launch or fade into range-bound drift. Accumulation zones near $2.85 suggest positioning ahead of potential volatility spikes. A breakout above $3.00 would likely trigger corporate allocation upgrades across structured portfolios. Conversely, failure to hold $2.88 could unwind the recovery structure and target a retest of $2.82.

In summary, XRP is consolidating under pressure, with institutions accumulating but not yet committing above $2.93. The ETF catalyst is near, and until then, this is a volume game: support at $2.85 holds the floor, while resistance at $2.93 sets the ceiling. A break in either direction will likely determine the next momentum shift.