XRP Worth Outlook: Spot ETFs Key to Breakout
XRP fell 1.17% on Sunday, August 10, following the earlier session’s 1.84% loss, closing at $3.1880. The token underperformed the broader market, which rallied 1.41%, taking the entire crypto market cap to $3.93 trillion.
XRP prolonged its dropping streak to a few periods on Sunday, August 10. Uncertainty concerning the timeline for an XRP-spot ETF approval overshadowed final week’s Joint Stipulation of Dismissal filing. The SEC and Ripple withdrew their appeals, concluding the Ripple case.
In distinction, the broader market prolonged its profitable streak to 5 periods, as crypto-spot ETFs, together with the SOL-spot ETF, recorded web inflows within the week ending August 8. Notably, SOL gained 1.51% on Sunday, August 10, extending its profitable streak to 5 periods.
Within the near-term, XRP’s worth outlook hinges on a number of key catalysts, together with:
- XRP-spot ETF information.
- Ripple’s progress on a US banking license.
- SWIFT-related headlines.
- Legislative information.
A breakout above the August 8 excessive of $3.3830 may enable the bulls to focus on the $3.5 resistance stage. A sustained transfer by way of $3.5 opens the door to testing the July 18 all-time excessive of $3.6606 (Binance Change).
Nevertheless, a break beneath $3.2 could convey the August 5 low of $2.9184 into play, exposing the 50-day Exponential Shifting Common (EMA).
