XRP News Today: XRP Hits All-Time High of $3.65, Driven by ETF Launch and Legislation

Ripple's XRP token recently reached an all-time high of $3.65, driven by broader market gains and the launch of the ProShares Ultra XRP ETF. This surge was also influenced by recent U.S. legislation, which has created a clearer path forward for digital assets, including XRP, contributing to increased demand. However, the momentum began to cool shortly after hitting the peak, with the token retracing to around $3.49 at press time. This correction was seen as a healthy adjustment following the steep ascent, and analysts noted that the bullish sentiment remained strong despite the cooldown.

A large XRP transfer was tracked, involving more than 210 million tokens, valued at about $738 million. The funds moved between two unknown wallets. Transactions like this often reflect growing interest or redistribution among larger holders during price swings. However, while the price has been rising, network growth has slowed. The number of new addresses joining the XRP network has dropped to 1,598, the lowest reading in recent months. This tendency implies there are fewer new market entrants, which may restrict the upside potential in the short run.

According to technical analysis, the current setup remains bullish, despite the most recent daily candle closing without a clear signal. A breakout above the $3.65 mark might trigger a rally up to $4.60 to $4.70. Additionally, the $6.13 level continues to present a more long-term bullish objective. The RSI is above 80, showing strong price momentum. At the same time, this level can also act as a warning for potential overextension. If buyers slow down and profit-taking begins, the price may face pressure unless fresh demand supports the move.

Although XRP’s structure still leans bullish, signs point to momentum slowing. The dip in new user growth, combined with price nearing overbought levels, may lead to a brief correction or consolidation. The recent rally in XRP was fueled by several key developments, including the launch of Ripple's RLUSD stablecoin, which is pegged to the U.S. dollar, adding to the optimism surrounding the token. Additionally, the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) appeared to be nearing its end, providing a sense of clarity and reducing uncertainty for investors. The whale transfer of $738 million also played a significant role in driving the price upwards, as large transactions often influence market sentiment and price movements.

Despite the recent cooldown, the overall outlook for XRP remains positive. The token has shown resilience, bouncing back from previous legal setbacks and continuing to gain traction in the market. Analysts have noted that the current price levels represent a strong support zone, with the next support level around $3.35 if the price were to drop further. This suggests that investors are still confident in the long-term prospects of XRP, despite the short-term fluctuations. The cooling of the rally after hitting $3.65 can be attributed to several factors. One possible reason is the slowing network growth, which may have contributed to the temporary loss of momentum. Additionally, the significant price increase may have prompted some investors to take profits, leading to a natural correction in the market. However, the overall sentiment remains bullish, with many analysts predicting that XRP could continue to rise in the coming weeks and months.