XRP News Today: XRP Nears Breakout Point at $2.80 Amid Institutional Interest

XRP is currently at a pivotal moment, trading within a falling wedge formation near $2.13. This pattern, characterized by consistent lower highs and flat support, has been building pressure for several weeks. A confirmed breakout above $2.80 could unlock significant upside momentum, potentially driving the price toward $3.70. This target is not arbitrary; it is based on the depth from the wedge's top to bottom, a pattern that has shown similar breakouts in previous XRP cycles.

The wedge shape is a signal of compression, not weakness. The price has been bouncing off the $2.00 support level multiple times, making it a critical point in XRP's short-term structure. As the price presses against the upper trendline near $2.13, market watchers are increasingly alert. The focus is now on $2.80, a price that has previously rejected attempts to break through and remains a significant barrier. If this level is breached, the technical structure could open up space for a rally toward $3.70.

XRP is gaining serious institutional attention and long-term backing. Eleven ETF proposals now involve XRP, from firms controlling over $240 billion in assets. Players such as 21Shares, WisdomTree, and Franklin Templeton are among those involved. These filings suggest a shift in how XRP is perceived, moving away from mere speculation and toward access, scale, and strategy. If approved, XRP ETFs could significantly shift liquidity and visibility, adding weight to XRP's current price action.

However, for any breakout to be confirmed, XRP needs substantial volume behind it. A clean move above $2.80 must come with strength; otherwise, there is a risk of rejection and a fall back toward the $2.00 support. This price range is acting like a pressure cooker, with the next few sessions potentially defining whether XRP holds $2 or surges past $2.80. Traders are watching XRP closely as the wedge narrows and volume remains low, with the following moves set to define the tone for the rest of 2025.