XRP News Today: XRP Surges 20% on EVM Upgrade and ETF Speculation

XRP is currently exhibiting strong bullish momentum, with a classic cup-and-handle pattern emerging on its charts. This pattern is a well-regarded bullish continuation signal, suggesting a potential surge to new all-time highs between 2025 and 2026. The critical support level at $1.81 remains intact, while the immediate resistance is near $2.35. The recent Ethereum Virtual Machine (EVM) upgrade and speculation around an ETF approval are key drivers enhancing investor confidence in XRP’s long-term prospects.

Technical analysis highlights XRP’s formation of a cup-and-handle pattern, which is characterized by a rounded bottom followed by a smaller consolidation phase, known as the handle. This pattern suggests a strong likelihood of upward momentum once the resistance near $2.35 is breached. The consolidation phase between $2 and $2.35 reflects healthy price digestion, setting the stage for a potential breakout. Analysts note that the pattern’s completion aligns with broader market movements, particularly Bitcoin’s anticipated price breakout, which often acts as a catalyst for altcoin rallies.

XRP’s monthly chart reveals a distinct W-shaped recovery pattern that began after its 2018 peak near $3.80. This double-bottom formation, completed by a rally in late 2024, signals a structural breakout that could underpin sustained gains. The recent reclaiming of the 50-day simple moving average (SMA) further confirms renewed buying interest, while the 20-day exponential moving average (EMA) at $2.17 serves as a dynamic support level. Despite short-term resistance at $2.35, these technical indicators collectively suggest a robust foundation for XRP’s price growth over the medium to long term.

The resolution of Ripple’s longstanding SEC lawsuit through a $50 million settlement has significantly reduced regulatory uncertainty, a critical factor for institutional investors. Ripple Labs CEO Brad Garlinghouse described this outcome as marking a “fresh chapter” for XRP, which has reinvigorated market optimism. This positive regulatory development has fueled speculation about the approval of an XRP spot ETF, a move that could attract substantial institutional capital and liquidity to the token. Market analysts emphasize that ETF approval would likely serve as a major catalyst, potentially driving XRP’s price beyond current resistance levels.

In addition to regulatory progress, XRP’s recent upgrade to include Ethereum Virtual Machine (EVM) compatibility is a pivotal development. This enhancement enables XRP to support decentralized applications (dApps) and smart contracts, broadening its use cases within the rapidly evolving decentralized finance (DeFi) ecosystem. By integrating EVM functionality, XRP positions itself as a more versatile blockchain platform, potentially increasing developer interest and network activity. This technical advancement complements the bullish price patterns and regulatory clarity, collectively strengthening XRP’s long-term investment thesis.

XRP’s current technical setup, underpinned by a bullish cup-and-handle pattern and reinforced by solid support at $1.81, indicates promising upside potential heading into 2025 and 2026. The combination of regulatory resolution, ETF speculation, and the strategic EVM upgrade enhances XRP’s appeal to both retail and institutional investors. While near-term resistance at $2.35 remains a key level to monitor, the overall outlook is cautiously optimistic. Investors should watch for confirmation of the breakout and continued developments in regulatory and ecosystem advancements to gauge XRP’s trajectory.